Evening Edition: "Meme Stock" Madness & Buyers' Remorse

The Fox News Rundown

FOX News Podcasts

Politics, Daily News, News

3.4 • 1.7K Ratings

🗓️ 15 May 2024

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Meme stocks are back to shaking up the market, with GameStop shares up 60% Tuesday (adding some $12B in market value this month) and AMC Entertainment shares up 32% (adding $2B in value). The man who kicked off the “meme stock” trend in 2021, Keith Gill, set the market in motion just by pushing out a single tweet. Amateur traders are once again investing in the trend, trying to get rich quick. Fox Business Contributor and President of Kaltbaum Capital Management, Gary Kaltbaum, joins the Evening Edition to explain why this fad could be a double-edged sword for investors. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:23.6	Until 18-plus, T's and C's apply, exchange fees and fair usage limits supply.
0:29.2	I'm Stuart Varnie.
0:31.0	I'm Martha Mackelum.
0:32.0	I'm Jason Chaffetz, and this is the Fox News rundown.
0:35.0	Wednesday, May 15th, 2024.
0:41.0	I'm John Zossier. Meme stocks had another moment on Wall Street this week
0:45.6	when companies like GameStop and AMC suddenly saw stock prices go through the roof and
0:50.5	this was all thanks to a tweet. These stock prices, which suddenly move
0:54.8	quick thanks to chatter online, seems to be a double-edged sword for some investors.
0:58.8	How anybody's getting involved with these things again when so much money has been lost
1:04.4	bottles the mind but welcome to a market where people are just trying to make
1:09.6	money and make it fast. This is the Fox News rundown, evening edition. to this podcast I'm causing mischief.
1:23.0	Like creeping past sleepy granddad
1:27.0	to sneak a pot of Petty Faloo from the fridge.
1:30.0	Because Petty Faloo fuels the mischief.
1:34.0	Boom!
1:35.0	Mom says that Peti fallu is made with calcium and vitamin D for Healthy Bones.
	...

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