Suspend your disbelief. That seems to be what modern financial markets require of investors, The Economist reports.
GameStop, a tiny and humble retailer that was swept up in an online-trading mania earlier this year, is still worth $11 billion. Digital animations are being sold through online tokens for millions of dollars. The stock of Dogecoin, a digital currency that was until recently considered to be a parody, is valued at almost $50 billion. Crypto, meme-stocks, non-fungible tokens — each new financial fashion seems to bring its own terminology and the whiff of absurdity.
Many investors would add SPACs to that list. Read more.
