Wall Street closed sharply higher on Wednesday terminating a three-day losing streak.
Its stock price is soaring–but a Wedbush analyst warns the platform doesn’t have the profitability to back up the hype.
Reddit and Trump Media are the first notable social media companies to begin trading publicly in the last five years. Meme stocks are typically shares in companies whose underlying business fails to justify a surge in their price. The action is often driven by small investors who for some reason pile into a stock, be it belief that a struggling company can turn itself around, a disdain for so-called short sellers — or fidelity to a former president.