‘Frankly stupid’: Fund manager weighs in on reignited meme stock frenzy as GameStop soars
Publishing timestamp: 2024-05-14 11:25:52
Summary
Fund manager Cole Smead criticized the meme stock craze, describing it as "frankly stupid" and "gambling." Shares in GameStop and AMC surged after a post by "Roaring Kitty," reigniting the meme stock frenzy. Smead warned that day traders were "just taking in rat poison," echoing the sentiments of the late Charlie Munger.
Sentiment: NEGATIVE
Keywords: investment strategy, breaking news: investing, gamestop corp, breaking news: markets, business news, amc entertainment holdings inc, markets,