New Meme Stocks Just Dropped!

In 2019, CNBC surveyed some of the largest companies in the world and found that one in five North American companies were claiming that Chinese competitors had stolen intellectual property from them within the last year alone. That's a fairly shocking statistic. But we learned this summer that it's not just corporate IP that's being stolen. Investors lost billions of dollars this summer after investing in a group of US-listed Chinese stocks that collapsed in value shortly after being promoted on social media.

The Chinese, it seems, are ripping off one of America's greatest innovations, the meme stock. Now, there's nothing I love more than a good meme stock story. And I think we all know that meme stocks were invented in America by Americans. While the memetock craze exploded in 2021 with GameStop and AMC, Bloomberg had already declared 2020 the year of the meme stock, highlighting Herz, Kodak, and EV companies.

2022, unfortunately, was a tough year for the meme investors. The memeto ETF, which is a real thing that you can meme invest in, collapsed in 2022, falling from $70 a share to 25. There was a bit of a resurgence in 2024 as GameStop and a few other meme stocks made a comeback. But this summer saw the rise of a new crop of good old-fashioned American meme stocks, dubbed the dork stocks by Investors Business Daily.

Crispy Cream, Open Door, Rocket Companies, and Kohl's, whose ticker symbols spell out dork, cost meme investors 13 billion this summer as they rose and fell while entertaining the rest of us. This was all good, wholesome American fun. American stocks been pumped by American meme festers on American message boards, traded on American exchanges. But while everyone was distracted by these dorks, another seven NASDAQ listed stocks, Concord International, Austin Technology, Top King Win, Skyline Builders, Everbrite Digital, Park Ha, Biological Technology, and Feton Holdings were being pumped up only to collapse by 80% or more over a few trading sessions.

Why has no one heard of these stons? Well, the answer is they were Chinese stonss, knockoffs promoted by foreigners in WhatsApp groups, Reddit message boards, Facebook, and on the Everything app, formerly known as Twitter. You could tell these weren't American meme stocks. There were no hedge fund managers accused of being short.

There were no charismatic CEOs live streaming in their underwear. There weren't even ...