YOLO Bets, Deconstructed

Meme stock and crypto investors don’t pay much attention to traditional Wall Street advice. Maybe they should.

Bitcoin proponents talk about the cryptocurrency hitting $1 million or even its total value reaching $300 trillion. The most enthusiastic “apes” claim to have much of their savings in AMC Entertainment Holdings shares and post the #AMC500K hashtag—indicating their belief that the movie chain’s shares will hit $500,000 in the “mother of all short squeezes.”