Millennials have been keen to invest their stimulus checks, with over half of those aged 25 to 34 indicating they planned to buy stocks with the most recent round of payments. More than a few have plowed fortunes, however tall they might be, into “meme stocks.” But getting the timing right on GameStop or other high-flying stocks is difficult. In this Insight, we show just how rare GameStop’s January return of 1,625% in January is and offer an illustration on the merits of diversification. We have long argued that time in the market beats market timing, and while astronomical meme stock returns can certainly help jumpstart wealth building the effects of diversification, time and compounding prevail over the long term.

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