If the meme-stock mayhem were a movie — and by all accounts it will be — we’re now at the scene where the protagonists, after pulling off their first big mission, fight about what to do next.
Emboldened by their initial success, the more daring would be anxious to ride again while the weather-worn veterans advise caution and, somewhere in between, a few characters can’t decide which side they’re on.
That scene is playing out now on the 10 million-member WallStreetBets forum, where much of the craziness that has upended markets over the last year has been galvanized. While the GameStop Corp. raid developed organically around a classic value-investing thesis, subsequent runs in the shares of everything from AMC Entertainment Holdings Inc. to ContextLogic Inc. (ticker: WISH) resemble a more coordinated campaign.
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