It’s been two years since the meme stock phenomenon grabbed national attention. Retail investors weigh in on the craze which took Wall Street by surprise.
Companies at the centre of the meme-stock mania that began two years ago have raised a collective $4.7bn from the hype, according to calculations by the Financial Times, even as the windfall has done little to boost their performance. The eight stocks have also gained a combined $7.5bn in market capitalisation since the retail trading frenzy at the start of 2021. On January 28 of that year the popular US broker Robinhood outraged customers by limiting their ability to buy those companies’ shares, causing their prices to suddenly plunge.
MoviePass expanded beta testing of its new subscription plans nationwide Tuesday, according to an announcement made on the company's Twitter account. There are currently four MoviePass plans available.