To The Moon

Investing in meme stocks is risky due to their high volatility, lack of fundamental support, and susceptibility to market manipulation and emotional trading. These stocks often experience sharp price swings driven by social media hype rather than business performance, which can lead to substantial losses. Additionally, they may face liquidity issues and regulatory scrutiny, making them highly speculative and challenging investments. Let's look at several meme stocks today: AMC AMC Networks reported its second-quarter 2024 earnings Friday, revealing a 97 million USD hit to its balance sheet, including a 68 million USD goodwill impairment charge at the international division following the sale of 25/7 Media and a 29 million USD long-lived asset impairment charge at BBC America, a joint venture with BBC Studios. AMC daily chart If we look at AMC chart from technical aspect, AMC seems to have a strong support at EMA50 (blue coloured EMA line). As shown in the highlighted circles, for the past 2 months, the share price has rebounded well once it touched the EMA50 line, for at least 3 times. This week, AMC showed the similar pattern and I believe this will cause AMC $AMC Entertainment(AMC)$ to surge again in near term. FFIE YT Jia, the founder of the electric vehicle startup Faraday Future, revealed on Wednesday that the company will deliver the next vehicle next week, on August 12. The delivery will represent the 13th vehicle overall and the second one year to date. FFIE daily chart Technically, it is clear that another crash is on going for FFIE. If you recall, you can see how Faraday Future rallied every time and plummeted directly a few days after that, within a short period of time. I cannot see any sign of rebound for the stock right now. With all the bearish technical indications such as dead cross and all EMA lines curve downwards, I believe FFIE $Faraday Future Intelligent Electric Inc.(FFIE)$ will continue to go lower and lower in near term. COIN Coinbase plans to integrate its secure crypto custody accounts - known as Vaults - into more of its products, including those offered by its growing institutional custody business, according to Yehuda Lindell, Coinbase's head of cryptography. COIN daily chart For COIN, the stock retraced following the bearish market sentiment in crypto sector this week. Moreover, the share price failed to sustain above EMA50 trendline support. We can also see a dead cross ❌ formation between EMA 25 and EMA 50 this week. But then for short term, it seems like COIN successfully stands back above its EMA200 support which is a good sign of a recent bottom. For such, I give Coinbase $Coinbase Global, Inc.(COIN)$ a bullish vote next week. Rivian Rivian reported late Tuesday a worse-than-expected loss in the second quarter while revenue came in higher than analyst projections. Meanwhile, the EV startup said its joint venture with Volkswagen is expected to close by the fourth quarter. Rivian daily chart For Rivian, the share price retraced together with the bearish market and it seemed to struggle to stay above EMA 200 support this week. Next week will be critical for Rivian, if the share price fails to stand back above to EMA200, we will see a continuous correction in Rivian price. I tend to give Rivian $Rivian Automotive, Inc.(RIVN)$ a bearish vote unless it manages to stand back above its EMA200 line. SE Sea Limited operates Shopee, the dominant e-commerce platform in South East Asia. ASEAN's young population and middle-class expansion drive rapid e-commerce market growth. Shopee is unlikely to keep up with the market growth, though, as new players are now gaining traction. Sea share price By referring to the chart above, Sea seems to be in a consolidation phase for the past 3 months. 76 USD becomes a triple top resistance and 63.29 USD acts as a near term support for Sea. Earlier this week, Sea plummeted below it's EMA200 which acted as a very strong support and the share price immediately rebounded from there. For such, I believe this week will be the bottom for Sea and it will continue to trend higher $Sea Ltd(SE)$ next week, unless market is having another big strike like this week. Do you like meme stocks? Which meme stocks have you invested in before? Do you make huge profits or losses? Will you choose to buy the pull backed AI stocks or still meme stocks? @TigerStars @Tiger_comments @CaptainTiger @MillionaireTiger @TigerGPT @Daily_Discussion