This past year has been a wild ride for the stock market. But one of the most incredible stories to come out of the investing world recently is the meteoric rise of GameStop(NYSE:GME).

In late January, GameStop's share price skyrocketed more than 1,800% in a matter of weeks, only to crash just days later. This was due to a short squeeze initiated by investors in the online community Reddit, and short-sellers lost billions of dollars because of it.

Investing in so-called "meme stocks" -- or stocks that are hyped online -- can be a dangerous strategy. These stocks often experience wild price fluctuations, and a spike in stock price is often due to its online hype rather than its business fundamentals. This makes them incredibly risky investments, and even experienced investors can lose a lot of money.

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