Clover Health and AMC show that meme stocks have a hold over investors

Meme stocks, like cicadas and Michael Myers, appear impervious to death. Take Clover Health. The Franklin, Tennessee-based healthcare tech company came into existence in the middle of last year’s SPAC (special purchase acquisition company) boom, propelled by famous venture capitalist Chamath Palihapitiya and spurred on by eager individual investors on Reddit’s r/WallStreetBets chat group.