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Meme stocks hitting the rocks as chat room investors get fried Arrogance and ignorance are an awful combination in any walk of life – but with investing, they become ruinous. That reality is playing out for millions of novice share market punters who jumped into US “meme stocks” with disastrous consequences. Meme stocks are listed equities whose underlying companies have poor fundamental and weak businesses whose share prices have been fuelled through social media chat rooms (mainly Reddit, Twitter and TikTok). From the South Sea Bubble in 1720 to the Dot Com Bust of 2000, fools and their money have always parted when financial parties end – as they always do. In the stock market the only sustainable fashion is the one rooted in growth and value. – Alec Hogg

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