Meme Stocks: B.A.N.G.

In 2020, a movement began that changed the landscape of the stock market forever. As social media became even more prominent with sites like Reddit, Telegram and Twitter, the general public has been able to communicate more than ever about shared interests, hobbies, and of course memes.

As consumers began to talk to each other more, Reddit’s r/wallstreetbets became known as the place to be to listen and learn about this new phenomenon dubbed “Meme Stocks”. As GameStop became a household name almost overnight after the stocks’ “short squeeze” due to hedge funds “shorting the stock”, the general public began to take a renewed interest in the stock market that hadn’t been seen in over a decade.

A popular catchy acronym had been coined by then: B.A.N.G. (Blackberry, AMC, Nokia & GameStop). B.A.N.G. stocks became synonymous with meme stocks, and everyone wanted to own some in hopes it could duplicate the gains those early investors saw in GME. Then something else happened that people started to take notice about and began asking the question; what is this “meme coin”, Dogecoin that’s starting to take off?