πππAfter 1 week of Israel Hamas war, at least 3500 people died and 400,000 people lost their homes. The grim news has affected the US markets on Friday with the markets closing down.
With such dire news, it is not surprising that Meme stocks were negatively impacted.
$Palantir Technologies Inc.(PLTR)$
was down 3% on Friday despite trading upwards earlier in the week. However it is still up a strong 171% year todate. The latest news that Palantir was awarded a USD 250 million contract from the US Department of Defense boosted Palantir's share price.
Palantir is also favoured to win the USD 595 million NHS contract in the United Kingdom. This is the biggest ever NHS England IT Contract and it could happen as soon as next week. NHS England is believed to favour Palantir on account of its work improving access to data during the pandemic, helping to bring the waiting list down and make operations more efficient.
Palantir is already quite embedded within the NHS with pilots of its Foundry software rolled out across many hospitals.
is now accessible on Sony's PlayStation this week. In the last few months, Roblox has begun aggressively expanding its compatibility with more platforms. It first developed compatibility for Meta Quest.
Roblox share price dropped 3.5% on Friday but is up 9.5% year todate. Analysts rate Roblox as a Buy with Target price of USD 37.32, an upside potential of 22%.
Share price dropped a huge 13.6% on Friday despite the recent good news that Taylor Swift The Eras Tour has brought in more than USD 100 million in global advance ticket sales revenue.
There is also the announcement of Beyonce's Renaissance World Tour which has brought renewed optimism for AMC.
AMC has also boosted its cash position by USD 325 million through the issuance of 40 million shares. When combined with the USD 435.3 million in cash reported in the latest earnings season, AMC's cash position now stands at USD 760 million.
AMC's share price is down 69% year todate. Wall Street Analysts are bearish on AMC with a Sell rating, Target price of USD 10.35.
I believe that AMC has sufficient cash in the balance sheet to slowly recover and regain investors' confidence once again.
$Faraday Future Intelligent Electric Inc.(FFIE)$
Share price was down 4.5% on Friday. Faraday has already dropped a massive 95% year todate. Faraday undergone a reverse stock split 1 for 80 on August 22, 2023. This is because it needed to stay above the USD 1 benchmark as set by Nasdaq.
Faraday has been troubled by a series of bad news this year. It delivered its first FF 91 2.0 Futurist Alliance but was pushed down by production delays. It also announced some accounting errors. Then there is a change of CEO. Matthias Aydt is the latest CEO of Faraday.
Analysts are Bearish on Faraday with a Sell rating.
With such volatility in the markets, Meme stocks are among the first casualties to feel the Bearish sentiments. However not all Meme stocks are created equal. Choose wisely and with good meme stocks like Palantir, it is possible to have a multi bagger in the future.
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Comments
Patience. Just keep adding PLTR. It's my largest gainer both % and $. It's left $15 behind and flirting with $18. It's sill volatile, but not nearly as much as before.
Despite being in such a strong position, Palantir's valuation metrics show that it is relatively cheap compared to levels seen in the prior years.
PLTR stock is very volatile and in short term anything can happen. Easier to live optimist life or not play in risky situations.
S&P 500 inclusion might also be on the horizon which may add another tailwind to Palantir's stock.