SEOUL -- Young retail investors in South Korea, dissatisfied with staid blue-chip shares like Samsung Electronics and Hyundai Motor, are flocking to "meme" stocks in hot science and technology sectors, brushing off warnings from officials on the dangers of rumor-driven trading.
The share price of Duksung, a small textile company based in Suwon, south of Seoul, more than tripled over two weeks in August on a rumor that it might benefit from superconductor technology. But the stock ended up losing half its value from that peak in just a few days. Similar fates have befallen other small stocks, as market chatter over possible gains stemming from new developments in science and technology sent prices on a roller coaster ride.
