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Stocks are at all-time highs. Chatter on WallStreetBets is surging. Retail traders are flooding into low-priced shares.

It’s not 2021, and the shares of the moment aren’t GameStop Corp., AMC Entertainment Holdings Inc. or the now-bankrupt Bed Bath & Beyond. In 2025’s meme stock mania, the companies du jour are Opendoor Technologies Inc. and Kohl’s Corp.
The similarities are clear: Like the episode four years ago, which famously led Gabe Plotkin to shutter his hedge fund Melvin Capital Management, amateur traders are piling into heavily shorted companies with low share prices in a bid to strike quick riches. And, as was the case back then, it comes at a time of broad market euphoria: the S&P 500 is at an all-time high, Bitcoin has doubled in less than year and blank-check companies are all the rage again.

Today's show features:

• Eric Jackson, Founder and President of EMJ Capital, on the latest rally in so-called “meme stocks” specifically Opendoor Technologies
• Bloomberg Businessweek Senior Reporter Max Chafkin on SpaceX warning investors that Elon Musk could return to US politics
• Monica Guerra, Executive Director and Head of US Policy for Morgan Stanley Wealth Management on the impact of tariffs on the economy and markets amid US dollar weakness
• Leo Kelly, CEO of Verdence Capital Advisors, on markets and the Federal Reserve’s path forward

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