Shares in struggling retailers and ageing consumer brands surged, as amateur traders cast aside Wall Street’s skepticism and mobilized online. It’s like 2021 all over again.
But the latest meme-stock rally could be even bigger than its predecessor four years ago, when investors piled into recognizable but unloved stocks, such as the video games retailer GameStop and the movie theatre chain AMC, according to the founder of the Reddit forum that helped whip up the frenzy.
