So I've been looking back at what happened with meme stocks over the past couple years and honestly it's wild how fast things moved. Remember when Roaring Kitty came back in May 2024 and everyone was like 'here we go again'? GameStop and AMC literally doubled overnight just from a few cryptic posts. Koss jumped 20% too. But yeah, that rally didn't stick around - by June everything was already pulling back hard.

The thing that gets me is how these meme stocks are always the same playbook. You've got these once-dominant companies that got left behind, heavily shorted, and then suddenly they blow up on social media. GameStop's Q1 2024 revenue was only $881.8 million, down 29% year-over-year, yet the stock was still getting bid up. Then they announced dilution and it all fell apart again.

What's crazier is looking at some of the other plays people were chasing. Trump Media reported a $327.6 million loss on basically no revenue - like less than $1 million. Stock still got pumped. Tilray was bleeding money, BlackBerry's losses tripled, and Fisker literally filed for bankruptcy. Canopy Growth had to do a reverse split just to stay listed, which is basically a death sentence signal.

AMC's probably the most interesting one to me because the debt situation is actually brutal - $8.6 billion in long-term debt after the pandemic versus $5.2 billion before. Yet people kept buying the dip thinking there was a turnaround coming. I get the appeal of catching these cheap stocks but man, the fundamentals on most of these are just terrible. It's pure momentum and social media hype driving anything at that point. Anyone else still holding any of these from back then?