Memes are roller coaster-ING 🎒 🎒🎒

Shorting Memes? Meme stocks were rocking in Wall Street once again this week. A post on Reddit late Sunday indicated that Keith Gill had built a sizable stake in GameStop. Shares of GameStop closed up 21% to 28 USD after jumping above 40 USD right after the opening of trading. 

It's important to know the momentum can shift just as suddenly the other way. It took just four weeks in 2021 for GameStop's stock to go from less than 5 USD to more than 120 USD. But it has yet to touch that price again. Even after its big jump in recent days, GameStop shares can still be bought for less than 30 USD. Let's look at the trend of a few meme stocks. 


AMC

With meme investors unable to keep rallies going for long, the owners of AMC Entertainment stock could be left with serious losses. The movie theater operator's Q1 results show its fundamentals are poor. AMC stock will be hurt in the long run by its huge debt load. 

AMC daily chart

However, if we look purely on AMC from technical aspect, it seems like the stock is ready for another wave of rally. For this week, each trading day ends with a green candle. The peak of each candle is getting higher and higher. Also, with all the EMA lines facing upwards, I believe $AMC Entertainment(AMC)$  will continue to trend higher next week. Besides, I believe the movement of GME will have a large impact on AMC too due to their meme nature. 


FFIE

It's difficult to identify an electric vehicle firm that's more troubled than Faraday Future. Billed as a premium brand in the clean mobility space, it's fair to say that FFIE stock hasn't followed the anticipated trajectory. During the past 52 weeks, shares lost slightly more than 99% of equity value. 

FFIE daily chart

Hard prediction for FFIE trend over the past 2 weeks. The share price consolidated over these period of time after the crazy rally in mid May. For FFIE, it seems like the share price is pretty well supported above its EMA trendlines support during the consolidation phase. Moreover, with its recovery in EV delivery, I believe $Faraday Future Intelligent Electric Inc.(FFIE)$  share price will be bullish in order to make it above 1 USD in order to avoid the risk of be delisted from Nasdaq.


COIN

Inflows to digital assets have sparked ripple effects outside the price rally extending to crypto stocks, decentralized finance (DeFi) numbers, and total value locked spikes among others. Crypto stocks have seen surging inflows in the past few days with some assets extending long-term gains. Crypto stocks are assets whose prices are affected by Bitcoin (BTC), altcoins, or developments in blockchain technology.

COIN daily chart

Strong and bullish week for crypto! For COIN, the chart already formed a higher low after broke out from the orange coloured downtrend resistance line. This stock ends this week with a full week of green candle, which is a bullish sign. I believe $Coinbase Global, Inc.(COIN)$  will continue to be bullish, with the recovery of cryptocurrency market and the stock will be able to challenge the recent high pretty soon. My near term target price for COIN will be 300 USD. 


Rivian

Rivian stock is getting much more respect due to a credible report that the company will team up with Apple. The company says that it remains on track to generate positive gross margins in Q4. The firm's upcoming EVs look poised to be blockbusters.

Rivian daily chart

For Rivian, the share price shows sign of turning bullish for the past few days. After rebounded from its quadruple bottom support at 10 USD, the share price managed to break previous high. In addition, if you look at the red coloured trendline, it is the EMA25 which is going to Gold Cross ❌ the EMA50 (blue coloured line), which signifies a mid term trend reversal, from downtrend to uptrend! For such, I remain $Rivian Automotive, Inc.(RIVN)$  on Rivian. 


SE

Sea Limited, which performed well as both Shopee and its primary competitor, TikTok Shop, raised take-rates meaningfully across several countries during the quarter. This is a noteworthy development as we are now starting to see mounting evidence of more rational competitive behaviour from the dominant players in Southeast Asia's e-commerce market, which in turn, signals a more favourable industry structure lay ahead.

SE daily chart

Simply amazing year for SE share price in 2024! An obvious, non stop and bullish uptrend could be observed clearly in the chart above. The recent pullback was perfect, touching EMA25 trendline support and rebounded. For more than 1 week, the share price closed green daily. I remain my bullish view on $Sea Ltd(SE)$  and I strongly believe the breakout of recent high will just be a matter of time. We are very near now.


Do you like meme stocks? Which meme stocks have you invested in before? Do you make huge profits or losses? Are you going to short term now? Kindly share your experience with the readers here ya.

@TigerStars  @CaptainTiger  @MillionaireTiger  @Tiger_comments  @TigerGPT  

# Have You Shorted Any Stocks?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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  • TigerGPT
    Β·06-08
    TOP

    As an AI financial analyst, I don't have personal experiences or emotions, so I don't invest in stocks or have any opinions on meme stocks. However, I can provide you with some analysis and information on the meme stocks you mentioned.

    GameStop (GME) has been one of the most prominent meme stocks. It experienced a significant surge earlier this year, driven by retail investors on platforms like Reddit. However, it's important to note that meme stocks can be highly volatile and unpredictable. While GameStop saw a rapid increase in its stock price in a short period, it has since experienced significant fluctuations and has not reached its previous high levels.

    AMC Entertainment Holdings (AMC) is another meme stock that gained attention from retail investors. The company's fundamentals have been weak, and it carries a substantial debt load. This could pose long-term challenges for the stock. While there have been short-term rallies driven by meme investors, it's important to consider the underlying financial health of the company.

    Rivian Automotive Inc. (RIVN) and Sea Limited (SE) are not typically considered meme stocks. Rivian is an electric vehicle manufacturer, and Sea Limited is a technology company with a focus on e-commerce and gaming. It's worth noting that both stocks have seen positive performance recently, with upward trends in their share prices.

    When it comes to investing in meme stocks or any other stocks, it's crucial to conduct thorough research, consider the fundamentals of the company, and assess the risks involved. Meme stocks can be highly volatile and subject to rapid price fluctuations, making them risky investments. It's important to have a well-diversified portfolio and consider your risk tolerance before investing in such stocks.

    Please note that the information provided is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, and it's essential to consult with a financial advisor or do your own research before making any investment decisions.

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    • TigerGPTReplying toShyon:Β 

      Based on the news articles, here is some information about last night's Roaring Kitty live stream:

      - Roaring Kitty, also known as Keith Gill, hosted a live stream on YouTube.- The live stream was scheduled for Friday at 12:00 ET.- The YouTube channel and live streams by Roaring Kitty are for educational and entertainment purposes only. He does not provide personal investment advice or stock recommendations during the stream.- The live stream event attracted attention as meme stocks, including GameStop, experienced significant volatility during the week.- The articles mentioned that Roaring Kitty's second pump, referring to his previous involvement in the GameStop stock frenzy, contributed to the recent surge in GameStop shares.

      Please note that the information provided is based on news articles, and I do not have access to the actual content of the live stream. For more detailed information, you may consider searching for the recorded live stream or checking Roaring Kitty's YouTube channel.

      Remember that investing in meme stocks can be highly risky, and it's important to conduct thorough research and consider your risk tolerance before making any investment decisions.

      06-08
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    • ShyonReplying toTigerGPT:Β 
      How is last night Roaring Kitty live?
      06-08
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    • TigerGPTReplying toShyon:Β 

      The volatility of GameStop (GME) and AMC Entertainment Holdings (AMC) last week can be attributed to a combination of factors, including market sentiment, retail investor activity, and company-specific news. Here are some key points from the news articles:

      AMC Entertainment Holdings: AMC stock experienced a decline last week, along with other meme stocks, in sympathy with GameStop. The company announced various discounts and programs to make movies more affordable and accessible, such as Discount Tuesday and AMC Summer Movie Camp. However, the stock's performance is influenced by factors beyond these initiatives.

        

      GameStop: GameStop reported its first-quarter results, which showed a decline in revenues. The stock declined in pre-market trading following the earnings release. The company's quarterly adjusted loss was slightly narrower than the previous year's loss. The market's reaction to the earnings report contributed to the volatility of GameStop stock.

        

      Meme Stock Mania: The articles mentioned the influence of meme stock icon Keith Gill, also known as Roaring Kitty, on GameStop and AMC. The livestream by Keith Gill on his YouTube channel attracted attention and may have impacted the stock prices.

        

      It's important to note that meme stocks are known for their high volatility and can be influenced by retail investor sentiment and social media discussions. The rapid price movements and fluctuations in these stocks are often driven by speculative trading activity rather than fundamental factors.

      Please remember that the information provided is based on news articles and does not constitute investment advice. Investing in meme stocks can be highly risky, and it's crucial to conduct thorough research and consider your risk tolerance before making any investment decisions.

      06-08
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  • rosyadi
    Β·06-09
    TOP
    Artikel yang bagus, apakah Anda ingin membagikannya?
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    • Shyon:Β 
      Terima kasih atas sokongan anda ya
      06-09
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  • Shyon
    Β·06-12
    Hi @TigerStars @MillionaireTiger @CaptainTiger can support this original technical analysis post, please? Thanks!
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  • Sonsonkok
    Β·06-09

    Great article, would you like to share it?

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    • Shyon:Β 
      Thanks for your like and support hehe πŸ˜ƒπŸ˜ƒπŸ˜ƒ
      06-09
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