To The Moon

🌟🌟🌟Meme stocks are off to a rough start in 2024. Are they bargains or value traps? $Palantir Technologies Inc.(PLTR)$ is facing an investigation by the UK's National Health Service (NHS) whether it has breached contract terms just a week after securing the contract worth £330 million or USD 419 million to build the Federated Data Platform for NHS. Palantir, which was tasked with developing a patient data platform, initiated an influencer marketing campaign to combat criticism of its work, potentially violating the contract terms. The campaign was not cleared by NHS, and may potentially violate the contract terms which require prior written consent for any marketing activities. Investigations are still ongoing. This week Palantir's share price has dropped almost 9%. However in 2023, Palantir's share price had soared a massive 145%. This is due to winning big contracts such as the USD 250 million contract with US Defense Department to research and develop Artificial intelligence and Machine Learning Technology. Palantir has also been profitable for 4 consecutive quarters which allows the company to be included in the S&P500 Index. Wall Street Analysts have a Hold Rating on Palantir with a Target price of USD 15.62, down 2% from the last closing price of USD 15.98. $Coinbase Global, Inc.(COIN)$ also has a difficult start to 2024. Its share price is down 17.34% in the past 5 days. However in 2023 Coinbase had a phenomenal year with its share price up a whopping 302%. Coinbase's Fortune is closely tied to Bitcoin. The US Securities and Exchange Commission faces a January 10 deadline for approving an application from ARK 21 Shares as well as more than a dozen outstanding applications for Spot Bitcoin ETF. The approval of Spot Bitcoin ETF would be the Holy Grail that would give institutional and retail investors easier exposure to Bitcoin's price without requiring them to invest directly in the asset. A Bitcoin ETF would also be a regulated financial product that would provide more transparency and safety to investors. The good news is that there is a flurry of meetings between SEC staff, exchanges and would be issuers this week. Coinbase has partnered with Blackrock in the Spot Bitcoin ETF whereby Coinbase would provide the custodian services for Bitcoin. Bitcoin has hit USD45,000 but has since dropped to USD 43,856 currently. I am bullish on Coinbase with the much anticipated approval of Spot Bitcoin ETF next week on January 10. $Rivian Automotive, Inc.(RIVN)$ Share price is down a huge 19% in the past week. However it is still up 14% last year. Rivian has just announced its production and delivery numbers for the 4th quarter 2023 and full year this week. In 4Q23, Rivian produced 17,541 EVs, up 8%. For the full year, Rivian exceeded its November projection of 54,000 units and finished the year producing 57,232 vehicles. However Rivian delivered fewer than 14,000 units in Q423, down 10% from 3Q23. So investors are worried whether Rivian is struggling to fulfill orders or whether it is finding hard to find enough buyers for its R1T electric pickup truck and R1S SUV. Rivian said that it expects to hit a positive gross margin by the end of 2024. This would be great news for investors. Wall Street Analysts are bullish on Rivian with a Buy rating, Target price of USD 25.50, an upside potential of 33%. $Faraday Future Intelligent Electric Inc.(FFIE)$ has the worst possible start to 2024 when its share price fell a massive 39% in just 5 days. In December last year, Faraday Futures received a notice from Nasdaq Exchange over its failure to comply with listing rules that require a minimum closing share price of USD 1. Faraday Futures has until June 25 to regain compliance by lifting its stock price over the required level for at least 10 consecutive days. At the last closing price of just 16 cents, it seems like a monumental task for Faraday Futures. On the positive side, Abu Dhabi Investment Office or ADIO has partnered with Faraday Futures to bring its Generative AI and advanced intelligent electric vehicles capabilities to Abu Dhabi's Smart and Autonomous Vehicles Industry or SAVI. Faraday Future has recently launched its limited edition FF 91 2.0 Futurist aiFalcon in the Middle East. Faraday Future has also announced it delivered its first 10 FF91 2.0 Futurist Alliance EVs in 2023. What Faraday Future desperately needs is more funds and more sales to keep the company running. Will ADIO from Abu Dhabi be its saviour? That remains to be seen. $AMC Entertainment(AMC)$ hit a new all time low to USD 5.17 on Friday as the company continues to issue shares which dilutes investors' holdings amidst its looming debt. Earlier this week, AMC said it has issued or will issue more than 3.25 million Class A stock to pay down notes due in 2026. AMC's share price has dropped 83% since last year. It is a far cry from its meme era hey days when it closed at a high of USD 339.05 in June 2021. Meme stocks are extremely volatile and suitable for those who like high rewards but don't mind high risks as well. Personally I like Palantir and Coinbase as I believe these 2 stocks have the greatest upside in 2024 and beyond. Palantir is into AI and Data Analytics while Coinbase is into Cryptocurrency. These two sectors are still in the nascent stage and have huge exponential growth ahead. @Daily_Discussion @TigerStars @MillionaireTiger @CaptainTiger @Tiger_comments @Tiger_Earnings @TigerClub @TigerPicks @Tiger_SG