Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Dan Squires
Head of Sales - UK
Summary: Meme stocks are back - and GameStop is the posterchild. Back in the midst of Covid this phenomenon first reared its head - in simple terms, US retail investors using chat rooms on Reddit to discuss buying bombed out and heavily shorted names. Price moves were extraordinary then, and are again now. GameStop closed up 60% on Tuesday, plus another 15% in extended hours. On the 13th May it was trading at $17, and closed yesterday at 53!