Interactive Brokers chairman Thomas Peterffy warns against investing in ‘meme’ stocks

In his interview, Interactive Brokers founder and chairman Thomas Peterffy said that “It is extremely tempting to short these stocks, but unless you have huge liquid resources, please try to resist the temptation because these prices can go to unimaginable highs before they settle down to a reasonable valuation, and you may have to cover on the high point.”

He advises investors to not spend on these stocks, pointing towards the fluctuation in AMC’s shares that have dramatically changed in the last week, more so in the last month. He claims that stocks return to their fundamental
values and in the case of AMC, it is very much lower.