So-Called Meme Stocks Finally Begin to Stabilize

(Bloomberg) — The days of meme stocks march­ing to their own tune have come to an end.A bas­ket of 50 stocks that were placed on a restrict­ed trad­ing list by Robin­hood Mar­kets at the height of January’s retail trad­ing mania is now mov­ing in the same direc­tion as the S&P 500. The rolling 30-day cor­re­la­tion between the two turned pos­i­tive last week for the first time since the curbs were enact­ed, accord­ing to data com­piled by Bloomberg.GameStop Corp. shares, the embod­i­ment of the Red­dit-induced fren­zy, flipped from a neg­a­tive to pos­i­tive cor­re­la­tion on Wednesday.The return of …

https://finance.yahoo.com/news/reddit-frenzy-stabilizes-meme-stocks-180055935.html