Is the meme-stock frenzy over already? Possibly, say experts.

By Ciara LinnaneEmily BaryTomi KilgoreClaudia Assis

Also, Best New Ideas in Money is back, Walmart had blowout earnings and AI is still buzzy

It was the week the meme-stock frenzy from 2021 returned with a vengeance - and it may all be over already.

All it took was a tweet from the long-dormant X account associated with investor Keith Gill, aka Roaring Kitty, last Sunday to spark a fresh frenzy of buying of videogame retailer GameStop Corp.'s (GME) and cinema chain AMC Entertainment Holdings Inc.'s (AMC) stocks that lasted through Tuesday.

By Wednesday, the stocks - joined by other former meme stocks like headset maker Koss Corp. (KOSS), cybersecurity company BlackBerry Ltd. (BB) and newcomer Faraday Future Intelligent Electric Inc. (FFIE) - had started to fade.

In AMC's case, the news of a debt-for-equity swap that involved issuing more shares weighed on Wednesday. By Friday, GameStop announced its own plan to issue stock and added a profit warning for the first quarter for good measure to send its stock down.

Will the trend resume on Monday? Probably not, experts say.

It was all driven by hype, not fundamentals, according to Cory Mitchell, an analyst at investing-information website Trading.biz.

"AMC as a company continues to lose money and has for several years," Mitchell said in a statement Wednesday. "While it is possible an orchestrated group of buyers could continue pushing the stock up, someone will be left holding the bag."

For live coverage, read: GameStop mania: Stock slides again after profit warning

Other stories include:

AMC's high-yield bonds are rallying with the stockFive things to know about meme stocks like GameStop and AMC-and why they're hot againCrown Electrokinetics' 'meme' stock rockets again on massive volumeCitron Research's Andrew Left says he is shorting GameStop again after his 2021 short flopped

Best New Ideas in Money is back

MarketWatch's regular feature on the Best New Ideas in Money was back this week with Alessandra Malito weighing in on five changes to the 401(k) that could make a big difference to your retirement.

Hannah Erin Lang looked at the rise of the female "finfluencer."

And Andrew Keshner explained how younger borrowers are increasingly turning to credit counselors to help manage their finances.

A busy week for AI developments

This marked an eventful week for companies trying to achieve artificial-intelligence supremacy, as OpenAI and Alphabet Inc.'s (GOOG) (GOOGL) Google made big announcements about their product roadmaps.

For OpenAI, that meant revealing a new voice assistant that seeks to make AI more human. And Google showed off ways that its AI suite could make people more productive when sorting through emails or searching the web.

Plus, Reddit Inc. (RDDT) has a new OpenAI partnership that was well-received on Wall Street.

Related coverage:

Opinion: Did OpenAI just launch a Siri killer?Reddit shares climb on ChatGPT deal with OpenAIGoogle rolls out AI in search, raising hopes for better results while websites brace for less traffic

All eyes on Nvidia

Most big companies have already reported quarterly results, but investors are eagerly awaiting earnings from the final major technology company left to go.

That's Nvidia Corp. (NVDA), which will look to electrify the technology sector when it presents its earnings Wednesday afternoon. Analysts officially anticipate $24.5 billion in revenue from the AI-chip powerhouse, up 240% from a year earlier, but analysts say bullish expectations could be even higher, at around $26 billion.

Wall Street will also be watching for what the company says about its coming Blackwell chip rollout.

Related coverage:

Here's what Nvidia earnings need to show to be 'good enough' for Wall StreetNvidia is seeing 'insatiable' demand, but these are the key questionsNvidia CEO Jensen Huang saw his pay jump 60% last year, topping what rivals made

Hedge funds show their hand

And speaking of Big Tech, Daniel Loeb's Third Point hedge fund has gone deeper into stocks of major U.S. tech companies.

Third Point increased its stake in Amazon.com Inc. (AMZN) by more than 20% and its stake in Meta Platforms Inc. (META) by more than 6% as of March 31. It slightly lightened up, however, on Microsoft Corp. (MSFT)

Regulatory filings on Wednesday offered investors a snapshot of holdings in Loeb's and other funds as of the end of the first quarter.

The filings also showed that insurer Chubb Inc. (CB) was the "mystery stock" Warren Buffett's Berkshire Hathaway (BRK.B) (BRK.A) was snapping up. Chubb shares rallied more than 7% on Wednesday and look to end the week with a 6% gain.

Related coverage:

Bill Ackman's Pershing Square dumps stake in Lowe's, keeps GoogleMichael Burry's Scion dumps Alphabet and Amazon, buys shares of gold ETFSoros Fund Management dumps New York Community Bank stake

Walmart hits a grand slam with earnings

Walmart Inc.'s stock surged into record territory after the discount retail giant released its fiscal first-quarter report on Thursday, in which it beat profit, revenue and same-store sales expectations and raised its full-year outlook.

Walmart (WMT) said revenue for the quarter grew 6% from a year ago, to reflect increases in transactions, foot traffic and market share, but not higher prices.

While a number of other retailers have looked to bolster sales by raising prices to offset transaction declines, Walmart Chief Executive Doug McMillon said: "These are not inflation-driven results."

In fact, McMillon said there was "deflation" in its general merchandise offerings, while food and consumables saw only slight price gains.

Other consumer stories:

Under Armour's stock buoyed by hopes for restructuring as founder Kevin Plank returns, pledges renewed focus on menHome Depot's sales fall short of estimates as spring selling season sees delayed startCanada Goose's stock soars as earnings beat offsets soft guidanceCracker Barrel is the latest restaurant chain to signal trouble ahead as it sees fewer diners

My rich friends are a problem

The Moneyist offered advice to a reader who has to repeatedly say no to her more extravagant friends and their expensive vacations and social outings.

'I'm weary of repeating myself': How do I deal with rich friends who take $22,000 cruises and book $800 hotel rooms? Prices are crazy enough already.

Also this week: 'I was hospitalized due to blood poisoning from a feral cat bite-and the copay wiped out my savings': Should I cash out my $12,000 life-insurance policy?

'He's quit talking to me': My father, 83, suffers from hoarding disorder and dementia. How can I help him and protect his estate?

Here are the 15 best deals to get now at The Home Depot's annual Memorial Day sale

The Home Depot's Memorial Day sale is back again this year - and the home improvement retailer is honoring America's military men and women by giving all shoppers big discounts on dozens of home and garden tools, appliances and more.

At last mortgage rates are falling

U.S. mortgage rates fell for the second week in a row, as the economy cools. And although rates remain over 7%, they are at the lowest level since mid-April, Aarthi Swaminathan reported.

In other housing news: 8 in 10 baby boomer renters would rather rent than buy a house. Here's why.

Builders are slashing home prices to keep buyers interested, as confidence in the market wanes for the first time since November 2023

-Ciara Linnane -Emily Bary -Tomi Kilgore -Claudia Assis

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05-18-24 0907ET

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