AMC, Bed Bath and Beyond soar as meme stocks make a return

Is this the return of the meme stocks?

Once again, the meme corner of the financial markets is popping this week.

As usual, the memeified stocks are making exceptional gains, despite very few strong fundamentals.

Here is their performance today:

• AMC: +17%
• Bed Bath and Beyond: +56%
• BlackBerry: +1.76%
• GameStop: +6%
• Nokia: +1%
• Palantir Technologies: +3.88%
• Virgin Galactic: +6.6%

Unfortunately, there will be traders who will buy during these new highs, and then they will be left holding the bag during the dump.

How is the broader market doing?

The Dow Jones Industrial Average rose 0.7 percent, the S&P 500 added 1.1 percent, and the Nasdaq Composite Index surged 1.5 percent. Crypto is trading relatively flat, while gold is up just 0.2 percent. U.S. crude oil surged 3.4 percent and natural gas gained close to one percent.