Chanticleer
Meme stock stupidity is back at the dumbest possible time
The $6 billion jump in the value of crappy US retailer GameStop is a sign of pure speculative excess – just as global markets wait to see whether US inflation is coming back under control.
The timing could not be more delicious. As the global financial market eagerly awaits a make-or-break US inflation print, Wall Street has been treated to the dumbest possible example of speculative excess.
Shares in GameStop, the exceptionally crappy US video game retailer, surged a stunning 74.4 per cent on Monday night after a social media account called Roaring Kitty posted a drawing of a bloke playing a video game.
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