Over the past month, AMC is up by more than 20% and GameStop gained over 30%. While meme stocks are extremely volatile, they are highly rewarding, and this is what is attracting Indians. Traditionally known for banking on fundamentals when it came to international investing, Indian retail investors are now taking a high-risk bet. Will they be suitably rewarded?
In January, WallStreetBets, a sub-group on Reddit, spiked up the price of gaming company GameStop, and literally drove hedge fund Melvin Capital to tears. It was a big victory for retail investors, who began looking at similar stocks to make quick returns. Around 14,000 kilometres away, Indian investors, too, wanted to be a part of the action. They started tracking WallStreetBets for new ideas. The GameStop phenomenon, which disrupted the entire
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