The meme stock renaissance seems to reflect a behavior Sosnick calls the “flight to crap.” It’s the inverse of the often-cited “flight to quality” that happens when investors are anxious about a downturn. For more CNN news and newsletters create an account at CNN.com

The recent trading frenzy resembles the 2021 "meme stock" rally, marked by surges in stocks like GameStop and AMC Entertainment. Contributing factors included COVID-19 lockdowns, which increased savings,

The market saw a fresh meme stock frenzy this week. While high exuberance can be a contrarian sell signal, sources say the market is still in good shape.