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4 charts that show the speculative boom is back on

We’re so back.

Luke Kawa

4/22/26 11:33AM

What month is it again?

We’re seeing:

Beyond Meat and other heavily shorted stocks going skyward,
Retail favorites going on a ridiculous run (peep quantum computing stocks IonQ, Rigetti Computing, and D-Wave Quantum!),
Call volumes climbing to their highest levels of the year, and
Supporting players in the AI boom like Oklo, Bloom Energy, and Nebius mooning.

It’s April 2026. Or October 2025.

Price action across US stocks now looks similar to the month when speculative appetite was arguably at its highest since 2021, when the SPAC boom and GameStop’s short squeeze had retail traders ebullient.

And, to be fair, that’s not to confidently assert we’re in the last gasp of a bullish frenzy or anything — these trends were underway for months before starting to sour about half a year ago.

We report, you decide:

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Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

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