Stocks and crypto have surged to record highs. Meme stocks are soaring. And shares of Donald Trump’s unprofitable social-media company spiked, adding billions to the former president’s net worth.
It’s easy to look at the market lately and think it was lifted straight out of late 2021. That autumn was the height of the “everything rally,” when Bitcoin hit an all-time high of $68,000 and GameStop shares were rebounding into $60 territory. But those heralding a return to retail trading’s heady heyday may be getting ahead of themselves, with researchers already questioning how long the current five-month rally in equities can last.
