There are two basic types of investors: value investors and growth investors.
There seems to be a third type growing in number out there. Those to whom neither value nor growth matter, let’s call them meme investors*. Someone might say that they are like momentum investors, but that isn’t really true, because momentum investors also look for downward momentum, this new group doesn’t.
- A meme investor informally gets together with other meme investors and choose a particular stock (or other instrument, like NFTs, etc), seemingly randomly (not growth, not value, not anything) and then all pile in driving the price higher. Sometimes they even have their own “language” around what they do, with acronyms for “holding forever” and similar.