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It’s Friday, May 17 — here’s what you’ll find in today’s newsletter:

• The latest meme stock rally

• Tom Brady’s regrets over his recent roast

• 4 quick hits of news from the last 24 hours

Meme stock rally

Meme stocks like GameStop and AMC began surging on the week of May 13. WSJ says it's due to the return of the popular figure “Roaring Kitty” -- he's a stock influencer.

Reuters: But they tanked almost immediately after. It was really a flash in the pan.

Morningstar.com didn't like it: GameStop's rally lacked substance, it was a “short-term baseless frenzy”.

But a Redditor on r/Options thought its was basically free money (while it lasted) -- the options were so good.

Vox: Why does this keep happening? Maybe it's Reddit's “utter nihilism” -- they just love chaos.

Bloomberg: Regardless, AMC leveraged the situation to slash debt by $164M -- clearly somebody benefitted from the surge!

Brady’s roast regrets

Post-Netflix roast, Tom Brady told podcasters that the roast's impact on his kids wasn't worth the laughs. He said he wouldn't do something like that again.

Barstool Sports had sympathy for Brady: The jokes about him and Gisele were probably awkward for their kids -- the good thing is no one expects him to do another roast.

Nikki Glaser had a different reaction: There's no way Brady “didn’t consider what could’ve happened” during a roast.

A CNN Op agreed: Brady's not naïve. He should've owned up to his mistake of participating in the roast.

Poll

1) The Vatican revises its process for discerning apparitions and supernatural phenomena, adapting to the digital era.

2) World No. 1 golfer Scottie Scheffler faces charges after an incident at the PGA Championship, calling it a misunderstanding.

3) New Covid-19 variants, including KP.2, threaten a summer wave in the U.S., but experts say risk remains uncertain.

4) A large-scale Ukrainian drone attack on Crimea cuts power and sets a refinery ablaze amid ongoing conflict.