The GameStop stock trading frenzy of January is receding further in the rearview mirror, and many publicly traded companies are feeling relieved that they dodged their own meme stock bullet. That relief is misplaced.
Shelter-in-place orders and the cancellation of professional sports seasons may have initially driven a new wave of investors onto the trading scene, but with a stock market still booming and events like the GameStop rally and the explosion of dogecoin attracting mass attention, this new class of investors is not likely to abandon its position of influence any time soon.
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