New Meme Stocks Just Dropped!
Patrick Boyle On Finance
Patrick Boyle
4.9 • 308 Ratings
🗓️ 8 September 2025
⏱️ 19 minutes
🧾️ Download transcript
Summary
This summer, a new trend hit Wall Street: Chinese meme stocks. Promoted in WhatsApp groups, Reddit threads, and even under fake YouTube comments, a group of obscure Chinese companies soared — and then collapsed — wiping out billions in investor savings. In this podcast, we explore how how this happened and look at a chinese biotech stock which briefly reached a $38 billion valuation without selling any products, we try to understand why the FBI is calling it “ramp and dump” fraud, and how scammers are impersonating brokers, analysts, and even YouTubers to lure in victims.We’ll compare these knockoff meme stocks to America’s domestically produced meme stocks — GameStop, AMC, and the DORK stocks — and ask: is this just low-quality IP theft, or a new frontier in financial absurdity?
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Transcript
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| 0:00.0 | In 2019, CNBC surveyed some of the largest companies in the world, and found that one |
| 0:06.7 | in five North American companies were claiming that Chinese competitors had stolen intellectual |
| 0:12.7 | property from them within the last year alone. That's a fairly shocking statistic, but we |
| 0:19.2 | learned this summer that it's not just corporate |
| 0:21.4 | IP that's being stolen. |
| 0:24.0 | Investors lost billions of dollars this summer after investing in a group of US-listed |
| 0:28.8 | Chinese stocks that collapsed in value shortly after being promoted on social media. |
| 0:35.0 | The Chinese, it seems, are ripping off one of America's greatest innovations, |
| 0:39.6 | the meme stock. Now, there's nothing I love more than a good meme stock story, and I think |
| 0:45.7 | we all know that meme stocks were invented in America by Americans. While the meme stock craze |
| 0:52.6 | exploded in 2021 with GameStop and AMC, Bloomberg had already |
| 0:58.0 | declared 2020 the year of the meme stock, highlighting Hertz, Kodak and EV companies. |
| 1:05.0 | 2022, unfortunately, was a tough year for the meme festers. The meme stock ETF, which is a real thing that you |
| 1:13.7 | can meme fest in, collapsed in 2022, falling from $70 a share to 25. There was a bit of a |
| 1:22.4 | resurgence in 2024 as GameStop and a few other meme stocks made a comeback. |
| 1:28.7 | But this summer saw the rise of a new crop of good old-fashioned American meme stocks, dubbed |
| 1:34.9 | the Dork Stocks by Investors Business Daily. |
| 1:38.5 | Crispy Cream, Open Door, Rocket Companies and Coals, whose ticker symbols spell out dork, cost meme festers $13 billion |
| 1:48.1 | this summer, as they rose and fell while entertaining the rest of us. |
| 1:53.6 | This was all good, wholesome American fun. |
| 1:57.1 | American stocks been pumped by American meme festers on American message boards, traded |
| 2:02.8 | on American exchanges. |
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