Whether you like to accept it or not, memes unquestionably play a significant role in the rapidly evolving social media landscape. But how precisely do memes relate to the stock market? Meme Stocks are the simple response to the question “What are they exactly and how did they come to be?” The complexity of meme stocks, their history, and other topics are covered in further detail in this page.
Memes: A Quick Overview
Historically, memes have been used to describe certain phrases or ideas. The phrase has, however, recently expanded its range of applications. Memes are simply an abstract idea, picture, or fashion that circulate or internet and social media platforms, going viral Memes are fundamentally an appropriation of social contexts since they make use of shows, fashion, music, and social conventions from popular culture. One of the mainstays of the internet, memes can be shared from person to person via social media, blogs, news, emails, and other online venues. (Source:Wikipedia)
How Do Meme Stocks Work?
So what exactly is a meme stock? Meme stocks are, to put it briefly, stocks of businesses that have become well-known and popular online and on social media platforms like Reddit, Facebook, Twitter, and Instagram, among others. Online articles on these stocks have the potential to enhance trading activity and drive large amounts of traffic.
Tesla Stock: Still a Meme?
One is left wondering if Tesla (TSLA) is still a meme stock given that certain meme stock investors and aficionados refer to it as the “king of meme stocks” and the “original” meme stock while other traders embrace pessimistic feelings towards it. Tesla gained the most in a 12-day period between October and November 2021, possibly as a result of a deal with the car rental firm Hertz.