Shares of GameStop (GME) are moving after “Roaring Kitty,” best known for the meme stock’s 2021 short squeeze, returned to his livestream. Bespoke capital Group Co-Founder Paul Hickey joins Asking for a Trend to discuss how this week’s movement compares to the 2021 meme stock rally.
“I don’t think it’s as widespread now as it was in 2021,” Hickey says. He points to the movement of several meme shares alongside GameStop in 2021, while this week’s movement seems to be contained to the video game retailer.
“There’s a lot better ways to waste your money as an investor than to try and ride that stock,” he adds, and believes that it won’t be a “broader sector issue to worry about at this point.”
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