The Globe and Mail reports in its Friday edition that massive stock movements are raising questions about a potential new wave of meme trading and overall risk appetite. A Reuters dispatch to The Globe reports that benchmark equity indexes are at record highs, cryptocurrencies are rallying and options trading volumes have surged, indicating renewed speculative activity. This risk-taking appears to be driven mainly by retail investors, as institutional players adopt a more cautious stance. OptionMetrics' Garrett DeSimone says: "It seems like the story, at least in the equity market, is everything is kind of risk on. It has gotten a bit frothy in that sense." So-called meme stocks -- stocks that surge in price owing to social-media hype rather than company fundamentals -- are at the forefront of this frothy market behaviour. The Goldman Sachs Most Shorted Rolling Index, comprising the 50 most shorted stocks in the Russell 3000, has risen 13 per cent this month, compared with a 2-per-cent gain for the Russell 3000. It is up over 60 per cent since April's low. Vanda's Marco Iachini says, "Retail has helped fuel the squeeze." Trading in short-dated contracts has also surged, signalling higher appetite for risk-taking.