MILWAUKEE- A run on stocks like Game Stop, AMC Theaters and Blackberry is bringing back memories of a similar economy more than two decades ago.
“I remember 1999, 2000, very clearly,” Annex Wealth Management President and CEO Dave Spano tells WTMJ. “Those day traders all ended up in tears.
Spano, of course, referring to the dot-com bubble at the turn of the millennium in which traders were buying and selling stock in companies that made little, to no profit.
This week’s push, fueled by message boards on Reddit and Discord, boosted the market price for Gamestop for example, by several hundred percent. A year ago the stock was trading at around $2.50, it closed on Wednesday night at almost $400 dollars.