Or I guess a model for a meme stock could go something like this. It starts with a burst of attention: In Trump Media’s case, the stock soared in October 2021, when the special purpose acquisition company first announced (the existence of and) its merger with Trump Media, and then again in January 2024, when the merger looked likely to close, and in March, when it did. And these bursts of attention took Trump Media’s stock price way, way, way, way, way beyond what seemed to be justified by its fundamentals (as a money-losing company with $4 million of revenue). That is sort of the definition of a meme stock.