This Nasdaq Giant Is Spoiling the Meme Stock Party
The stock market has been volatile lately, and Thursday was no exception. As of noon EDT, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down two-thirds of a percent after having been up briefly earlier in the day.
One big influence that has pushed markets up and down violently is the proliferation of meme stocks. Many retail investors follow popular companies very closely and have sent their share prices skyrocketing. Yet the bullish hopes of these investors are vulnerable to competing interests from potential rivals, and today, video streaming giant Netflix (NASDAQ: NFLX) was the cause of some discomfort for shareholders in meme stock favorite GameStop (NYSE: GME).
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Source Fool.com
