The meme-stock fever gripping US sharemarkets has reached the ASX as retail traders swarm towards popular companies on social media, message boards and budget trading apps.
The young investors who are part of this new wave prefer to conduct research on Reddit, Facebook, TikTok and Twitter, and speculate on stocks they expect to rise, without any reference to fundamentals.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
