To The Moon

🌟🌟🌟The word "meme" is derived from the ancient Greek word "mimema". It means imitation. So meme stocks are shared investing ideas imitated by other investors. Since Keith Gill aka Roaring Kitty resurfaced in May after a 3 years' absence, Meme stocks are back in the spotlight. However not all meme stocks are created equal. Some are better investments than others. $Palantir Technologies Inc.(PLTR)$ is a meme stock that has done well due to its focus on big data analytics and AI software that helps companies update their operations in alignment with our digital era. It has won many government contracts but it is now gaining more customers in the private sector. Performance wise Palantir is up 5.3% today and has risen 7.3% in the past 5 days. Palantir has jumped 64% year todate and in 2023, it has skyrocketed 73%. 2023 marked the first profitable year in Palantir 's history. In Q1 24, Palantir achieved GAAP profitability for the 6th consecutive quarter and GAAP operating profitability for the 5th quarter in a row. Palantir is now able to join the S&P500. This is a big deal as the S&P 500 represents the most influential and biggest companies by market capitalisation on the New York Stock Exchange. Another worthy meme stock to consider is $Rivian Automotive, Inc.(RIVN)$ . It recently made the news on June 25 when Rivian and Volkswagen announced plans to create a joint venture to develop EV software and technologies for their respective automobile businesses. The new entity will be equally owned by both companies. As part of the deal, Volkswagen will take a USD 1 billion equity stake in Rivian. Volkswagen will also invest an additional USD 2 billion in Rivian shares in 2025 and 2026. In addition to that, Volkswagen will put USD 2 billion into the joint venture through a combination of cash payments and loans. The total investment is worth USD 5 billion coming from Volkswagen. This agreement is definitely a vote of confidence in Rivian's technology and research capacity. Volkswagen now joins $Amazon.com(AMZN)$ and Ford Motors which also have equity stakes in Rivian. Rivian's shares have risen by over 20% since the announcement. However Rivian still faces challenges such as rising competition and high interest rates. Rivian has incurred operating losses of USD 1.48 billion in Q1 24. The money from Volkswagen is a life saver. Rivian hopes to achieve its first gross profit this year and the new partnership with Volkswagen will give it added impetus to do well this year. Not so lucky is $Faraday Future Intelligent Electric Inc.(FFIE)$ whose share price has dropped 24% this week. Faraday Future shares have been on a roller coaster ride. It has recently been given a reprieve by Nasdaq to stay listed provided its shares trade with a minimum of USD 1 for 10 consecutive days by August 31 2024 and to complete its periodic reporting by July 31 2024. Faraday Future is in talks with Middle East companies hoping to secure some funding for its ailing business. It is also considering its 3rd reverse stock split in order to increase its share price to USD 5 by the Nasdaq deadline. At the last closing price of just 40 cents per share it is a long way from USD 5. $AMC Entertainment(AMC)$ is one of the original meme stock favourites after Gamestop. It is on a mission to reduce its massive debts incurred during the Covid pandemic. It is currently in talks with its debtors to extend its loans deadline, some of which are due in 2025 and 2026. AMC owns the largest chain of movie theatres worldwide. Going to the movies is not as hot as it used to be pre Covid. However AMC had some fantastic ticket sales recently due to some blockbuster movies such as Inside Out 2 and Bad Boys Ride or Die. Performance wise AMC is up 6.9% for the week but still down 17% year todate. In 2023 AMC has plummeted by 86%. Of all the meme stocks mentioned above, I believe Palantir is the most promising one. Dan Ives of Wedbush said that Palantir can benefit from the AI party. His Target price is USD 35 per share. Another Palantir Bull is Cathie Woods who has been buying Palantir recently like hot cakes. Are Meme stocks good investments? The answer lies in each individual investor's risk appetite and his goals. I prefer to buy Wonderful Companies at Fair Prices just like Warren Buffett. Cheap or low priced meme stocks are not necessarily good buys. It maybe a case of good bye to our hard earned money. @Daily_Discussion @TigerStars @Tiger_comments @MillionaireTiger @CaptainTiger