28Mar3:18 pmEST
Meme Stocks: The Pursuit of Slappyness
As TSLA, AMC, GME, and other "meme stocks" like HYMC (via AMC) are slap happy today, the concern is that they drain the rest of the market of energy, perhaps. We saw a similar dynamic for a stretch over a year ago during the AMC/GME mania.
That said, we always try to stay opportunistic yet disciplined. BBBY, a very heavily-shorted retail play and a gamma squeeze favorite of the Reddit crowd, looks coiled as it bases well above its 200-day moving average, seen on its daily chart, below.
I would look here for the next rotation higher if the gamma squeeze party is back in town for the time being.
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