This is the year that bank stocks became meme stocks. A near-record number of shares in regional banks has changed hands this month, and the number of options bets against the sector has exploded. Big Wall Street institutions and at-home individual investors alike are taking part, feeding on each other’s selling and buying.
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‘I came to kill the banks.’ Meme-stock traders find a new passion.
“The dominoes will continue to fall as the gravitational pull rips more banks into pieces,” one user wrote on a day PacWest stock dropped 11%.
