> The media keeps getting this wrong by underestimating the skill and prescience of some of these meme-stock investors. That is because it's a self-fulfilling

> The media keeps getting this wrong by underestimating the skill and prescience of some of these meme-stock investors. That is because it's a self-fulfilling profecy. AMC and GME were "undervalued" because a large enough group of people thought they were undervalued, and kept buying them at higher and higher prices until the undervalue was true in retrospect. In some ways the stock market in general works similarly, but at least there are some sound financial groundings for that, with stocks being the value of expected future dividends. Enough people memeing on a stock and playing a game of hot potato will make the value rise, but doesn't really make those analysts wrong in their initial analysis. GME is a bit of an exception of this because some people saw the short pressure and decided to mobilize WSB to take advantage of that, but for the rest which stock would be memed on - and thus would rise in price - had almost zero relation to the actual performance of the underlying company.