Sosnoff & Ratigan: Truth or Skepticism - May 15, 2024 - Regression to the Meme?
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Description
Tom Sosnoff and Dylan Ratigan delve into the resurgence of meme stocks, highlighting GameStop's (GME) brief rally. Ratigan argues the phenomenon isn't financially significant but reflects a social media-driven rebellion against traditional finance, fueled by ample speculative capital. Sosnoff agrees but stresses the overstated market distrust. They foresee dramatic shifts in finance, disadvantaging traditional firms like Schwab in favor of tech-focused brokerages like Robinhood (HOOD). Both remain skeptical of current political leadership impacting markets.