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Definition: meme stock

A publicly traded equity that is popular because a post on social media goes viral. For example, in 2021, GameStop jumped from $20 a share to nearly $350 in two weeks because hedge funds had shorted the stock and a Reddit post encouraged people to buy it out of revenge. The stock soon dropped into the $40's and then began to rise again. The early adopters who cash out are always the winners. See meme.