The Meme Stocks Are Back and May Have Found Their New ‘Roaring Kitty’
It seems meme stocks are back, and this time, the latest craze was sparked—somewhat accidentally—by a Canadian hedge fund manager named Eric Jackson. About three weeks ago, Jackson’s firm, EMJ Capital, bought shares of Opendoor Technologies, a San Francisco–based company that buys and sells homes online, at around $0.70 apiece. Since then, the company’s share price has skyrocketed over 600% to an intraday high of almost $5 on July 21. Today, it’s trading at about $2.40, still a roughly 250% gai