Roaring Kittythe Roaring Kitty account, as well as DeepF------Value on Reddit, helped lead a meme stock frenzy between 2020 and 2021.
"This is now like watching a sitcom on repeat," said Dan Egan, vice president of behavioral finance and investing at Betterment.US energy panel approves rule to expand transmission of renewable powerRoaring Kitty gives the impression of being a guy in his basement trading stocks versus other big investors like hedge funds and investment banks, he said.Committing money to meme stocks comes with risks.
Betting on these stocks is a form of gambling, said Ted Jenkin, a certified financial planner and the CEO and founder ofBut he told CNBC he did bet on the meme stock frenzy himself — investing $75,000 in AMC on Monday and cashing out eight hours later after he doubled his money.For many investors in the stocks, it can be difficult to decide when it's the right time to sell, Egan noted.
Investors who weren't able to profitably sell the stocks in the past may be holding on for a chance to do so now, he said.For those who do decide to bet, it's best to think of it like a hobby and not risk funds you will need.Couple grew their basement side hustle into a business bringing in $4.5M per year: We'd ‘never seen anything like that in a bank account'
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