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Meme stock mania 2.0

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Meme stock mania 2.0

GameStop and AMC were the early faces of the meme stock revolution as retail investors traded these shares in a viral frenzy even if there wasn’t factual news. 

 
 
TickerSecurityLastChangeChange %
GMEGAMESTOP CORP.24.41+0.07+0.31%
AMCAMC ENTERTAINMENT HOLDINGS INC2.850.000.00%

Famously, investor Roaring Kitty, also known as Keith Gill and Deep-F…value, who had gone quiet for three years, returned to social media in June 2024 with a Reddit post that showed a ledger of GameStop holdings worth millions. The stock soared 30% after the post. 

Roaring Kitty, mem stock

Keith Gill, known on Reddit under the pseudonym DeepF…Value and as Roaring Kitty, is seen on a fragment of a youtube video displayed on a smartphone screen in front of GameStop logo.  (Pavlo Gonchar/SOPA Images/LightRocket  / Getty Images)

He also posted on X a reverse green card from the game Uno. While he didn't specify the meaning, in the stock meme world it can reportedly signal a comeback.

ROARING KITTY RETURNS WITH GAMESTOP BOOM

 

While the GME thread has died down, investors now have an exchange-traded fund for the next class of meme stocks; Opendoor Technologies, Plug Power, and Applied Digital Corp which rolled out Wednesday by Roundhill Investments. 

TickerSecurityLastChangeChange %
MEMEROUNDHILL ETF TRUST MEME STK ETF9.81-0.01-0.05%
OPENOPENDOOR TECHNOLOGIES INC8.49-0.80-8.61%
PLUGPLUG POWER INC.3.65-0.21-5.56%
APLDAPPLIED DIGITAL CORP27.94+0.64+2.34%

"Meme stocks started as a rebellion but have grown into a revolution," said Dave Mazza, CEO of Roundhill Investments in the announcement. "From GameStop to AMC and beyond, retail investors have proven that they are here to stay as a permanent force in the market. With MEME, we offer investors a tool to capture that power through an actively managed ETF that can rotate quickly into the stocks dominating the conversation today." 

HOW WEALTHY INVESTORS ARE USING ETFS

 
A cyclist rides his bike by an AMC theatre in San Francisco.

A cyclist rides his bike by an AMC theater in San Francisco.  (Justin Sullivan  / Getty Images)

Trading under the ticker aptly named MEME, the firm notes investors can use the ETF "whether as a momentum-driven trade for those seeking to ride retail enthusiasm, or as a hedge against a short book…" which are bets a stock will fall. 

 

Opendoor Technologies

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In the case of Opendoor Technologies, that stock is up 430% this year but has traded in a range of $0.51 to $10.87 per share. Its retail investors, known as the "Open Army" according to the Wall Street Journal, have powered shake-ups in the C-Suite and strategy moves for the digital home flipping company. It is not profitable. 

TickerSecurityLastChangeChange %
HIMSHIMS & HERS HEALTH INC58.17+0.20+0.35%
QUBTQUANTUM COMPUTING INC20.82-1.19-5.41%
BEBLOOM ENERGY CORP.87.58+1.52+1.77%

GET Gxstocks ON THE GO BY CLICKING HERE

 

Other stocks in MEME include Hims & Hers Health, Quantum Computing and Bloom Energy to name a few. 

Olivia Smith

Olivia Smith

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