The meme stock revolution is over. Goldman Sachs says U.S. retail investors have sold most of what they bought over the last two years

The meme stock revolution is over. Goldman Sachs says U.S. retail investors have sold most of what they bought over the last two years

Retail investors flooded into so-called meme stocks like AMC and GameStop during the pandemic hoping to net quick profits in a market that just seemed to keep on soaring.

In 2022, with interest rates climbing and the stock market struggling, it’s a different story.

Goldman Sachs analysts, led by David J. Kostin, revealed in a Tuesday research note that retail investors have sold most of their U.S. stock purchases from the last two years. And over the last seven weeks alone, $26 billion has flowed out of U.S. equity ETFs and mutual funds, which are often traded by retail investors.