Reward 1000 Tiger-coinsFrom March of last year to January of this year, the MEME ETF $ROUNDHILL MEME ETF(MEME)$ in the US experienced a decline of over 55%. However, the significant drop in MEME stocks was completely reversed in January of this year. Since the beginning of this year, the MEME ETF has risen by nearly 60%.
Why meme stocks stage a comeback?
The turnaround of MEME stocks is closely related to the changes in the US economy. At the beginning of last year, Wall Street institutions predicted a 70% chance of the US entering a severe recession, but now hardly any institution is still predicting a recession.
As the possibility of a US recession decreased, the weak MEME stocks became the most potential targets in the market.
To some extent, the MEME ETF can be seen as a greed index or an indicator of market liquidity in the US stock market.
Short sellers suffered against meme’s 100% surge!
The collective surge in MEME stocks has left many short sellers, who bet against these stocks. Even though they have paper losses, they don’t want to exit their positions because everyone knows these companies were on the verge of bankruptcy.
As the expectations of a recession fade away and the US tech stocks enter a bull market, MEME stocks escape from the brink of bankruptcy to survival, which gives the stock prices significant room for rebound.
Among the top ten holdings of the MEME ETF, six companies' stock prices have risen by over 100%. For instance, $Carvana Co.(CVNA)$ has seen a surge of 759.61% YTD.
$Rocket Lab USA, Inc.(RKLB)$ $Upstart Holdings, Inc.(UPST)$ $Nikola Corporation(NKLA)$ $Palantir Technologies Inc.(PLTR)$ $Enovix Corporation(ENVX)$ $Carnival(CCL)$ $SoFi Technologies Inc.(SOFI)$ $Lucid Group Inc(LCID)$ $Penn National Gaming(PENN)$
Have your ever heard of $ROUNDHILL MEME ETF(MEME)$ ?
Will you bet on meme stocks as broader market continue to go higher?
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Comments
So Meme is a great ETF for me to add a little excitement to my portfolio. It contains 25 of the hottest meme stocks like Carvana which is up a whopping 1032% year to date. It even includes Tesla, Coinbase and Palantir which are the current hottest stocks!
So for a low cost, I get to ride the high of Meme stocks!
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