Barron's just published (July 12), “Meme Stock Trade Far From Over,” and it is an especially important contrarian indicator. The cover title, atop a drawing of rocket ships with meme stock symbols, is "Meme Stocks Defy Gravity – The boom in retail day-trading persists as Wall Street struggles to respond." The meme stock weather report: Stormy with a threatening outlookHere are the ten meme stocks discussed in the Fortune and Barron's articles. The table shows the two problems: no fundamental support and huge declines from meme-highs John Tobey (Financial Visualizations - FinViz.com)Weekly graphs for meme stocks 1-4 Financial Visualizations - FinViz.comWeekly graphs for meme stocks 5-8 Financial Visualizations - FinViz.comWeekly graphs for meme stocks 9-10 Financial Visualizations - FinViz.comWhy "dangerous" is an appropriate label for meme stock ownershipFor meme stock investors still holding on (and believing in the Barron's false description of reality), this is a dangerous time. The meme stock investors were even willing to buy up newly issued shares.

Source: Forbes July 13, 2021 20:59 UTC