Spillovers between Bitcoin and Meme stocks

【Author】 Li, Shi

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】This paper examines the spillover effect between Bitcoin and Meme stocks, the two types of assets heavily traded by retail investors. A unidirectional wealth transfer phenomenon from Meme stocks to Bitcoin is identified. Moreover, both past own volatility and volatility from Bitcoin contribute to Meme stocks' current volatility. "Bad" news on the two assets affects not only themselves but also spillovers to each other. Our findings demonstrate the great risk of investment in Meme stocks and call for comprehensive protection for retail investors amid their growing active involvement in financial markets.

【Keywords】Bitcoin; Meme stocks; Retail investors; Spillovers; Multivariate GARCH

【发表时间】2022 DEC

【收录时间】2022-10-31

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-数字货币