It’s been roughly a year since GameStop (GME) began overtaking headlines and a ‘meme stock’ phenomenon was born. However speculative assets have been under pressure recently amid rising inflation and a more hawkish-toned Federal Reserve.
“I do hope that investors will refocus on fundamental values,” Thomas Peterffy, founder of Interactive Brokers told Yahoo Finance Live.
“This meme stock idea — it’s fun, but it’s not sustainable,” he continued.
“I think a lot of people will lose a lot of…
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