The Meme Stocks Are Back and May Have Found Their New ‘Roaring Kitty’

The article discusses the resurgence of "meme stocks," a phenomenon where retail investors coordinate to drive up the prices of certain stocks, often those seen as undervalued by traditional metrics. The latest frenzy was inadvertently sparked by a Toronto hedge fund manager, who posted a video about his investment in a relatively obscure stock, triggering a surge of interest and buying from retail investors. The article suggests that this new "meme stock" movement may have found its own version of "Roaring Kitty," the individual investor who helped ignite the GameStop frenzy in 2021. The Toronto hedge fund manager's video, which was not intended to promote the stock, nonetheless captured the attention of retail investors and led to a significant increase in the stock's price. The article highlights the continued power of social media and coordinated retail investor action to influence the stock market, even in the face of traditional financial institutions and strategies. It suggests that the meme stock phenomenon is not going away and may continue to shape the investment landscape in unexpected ways.