Analysts say global financial markets are entering a euphoric but potentially dangerous speculative phase.

Such phases are typically characterised by investor mania for so-called meme stocks, made popular on the share market by social media posts.

But investors are also chasing after cryptocurrencies, gold and small-cap stocks, or stocks with relatively low prices.

Adelaide woman Lisa, who only wants to use her first name for privacy reasons, buys so-called penny stocks in small companies trading on the share market.

She trades stocks in the resources, information technology and pharmaceuticals sectors.