Could This New Project Top $1T?

This billionaire has predicted that his new venture - something I'm calling "X-9840" - could become "a trillion dollar company." Today, only three companies in the US are worth more than $2 trillion. Microsoft... Apple...and Nvidia. This has nothing to do with electric vehicles... Self-driving cars, rockets, brain chips, or satellites.

PASSIVE INCOME (by this evening)

As 'Roaring Kitty' Returns, Here Are 3 ETFs To Leverage The 2024 Meme Stock Wave

Piero Cingari
May 13, 2024

Meme stocks have once again captured the spotlight in the financial market following the return of Keith Gill — known widely as “Roaring Kitty”— to social media after a three-year hiatus.

For those unfamiliar, Gill is a pivotal figure in the meme stock phenomenon that took the financial world by storm in early 2021. As an individual investor and financial analyst, he became famous for his role in the explosive rise of GameStop Inc. (NASDAQ:GME)’s stock price.

The struggling video game retailer saw its shares soar from under $20 to nearly $500 at their peak in January 2021, largely driven by a short squeeze on investors who had bet against the stock amid weak fundamentals.

Unlike traditional stocks, which are influenced by fundamental analysis and corporate performance, meme stocks are often subject to rapid price changes driven by hype and mass trading actions.

Gill chronicled his investment journey across various platforms, including YouTube and Reddit, notably under the username u/DeepF******Value on the subreddit r/WallStreetBets. His philosophy is emblematic of a broader narrative about meme stocks and the democratization of investing, illustrating how individual investors can unite to disrupt the financial status quo of seasoned and large investors.

Gill’s resurgence on X (formerly known as Twitter) on May 13, sparked a viral reaction. A posted image of a man intensely focused on a video game, adopting a serious gaming stance, served as a metaphor for Gill’s impactful return to the public eye.

The post has attracted considerable attention, amassing over 10K retweets, 24K quote tweets, 94K likes, and over 19 million views, highlighting its widespread appeal and significance.

GameStop, AMC Skyrocket

As a result, GameStop’s share price soared by 74% on Monday, representing the fourth-largest one-day gain since the company’s IPO in 2002. This surge trails only behind the spikes of 104% on Feb. 21, 2021, 135% on Jan. 27, 2021, and 93% on Jan. 26, 2021.

Similarly, other meme-related stocks experienced significant increases. AMC Entertainment Holdings Inc. (NYSE:AMC) saw its shares climb nearly 80%, marking its most substantial single-day rise since June 2021, the third strongest in its history.

Meme-Stock Related ETFs Overview

Investors looking to capitalize on the volatility and potential high returns of these stocks can consider meme-stock-related exchange-traded funds (ETFs).

Schwab Crypto Thematic ETF (NYSE:STCE)

  • Description: This ETF invests in key cryptocurrency companies and includes meme-related stocks, blending digital finance with viral market trends.
  • Top Holdings: MicroStrategy Incorporated (NASDAQ:MSTR), Coinbase Global, Inc. (NASDAQ:COIN), CleanSpark, Inc. (NASDAQ:CLSK), Marathon Digital Holdings, Inc. (NASDAQ:MARA)
  • 1-Day Return (May 13, 2024): 2.99%
  • Top Performers: AMC Entertainment Holdings, Inc., GameStop Corp., Beyond, Inc. (NYSE:BYON)

SoFi Social 50 ETF (NYSE:SFYF)

  • Description: Tracks the top 50 stocks held in SoFi's self-directed accounts, highlighting popular choices among retail investors, including frequent meme stock picks.
  • Top Holdings: NVIDIA Corporation (NASDAQ:NVDA), Tesla Inc. (NASDAQ:TSLA), Microsoft Corp (NASDAQ:MSFT), Meta Platforms, Inc. (NASDAQ:META)
  • 1-Day Return (May 13, 2024): 2.1%
  • Top Performers: GameStop Corp., Beyond Meat, Inc. (NASDAQ:BYND), Rivian Automotive, Inc. (NASDAQ:RIVN)

VanEck Vectors Social Sentiment ETF (NYSE:BUZZ)

  • Description: Utilizes AI to analyze online content and select the 75 large-cap stocks with the most positive investor sentiment each month, reflecting current market trends.
  • Top Holdings: Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA), Alphabet Inc. (NASDAQ:GOOGL)(NASDAQ:GOOG), Apple Inc. (NASDAQ:AAPL), The Boeing Company (NYSE:BA)
  • 1-Day Return (May 13, 2024): 0.9%
  • Top Performers: Rivian Automotive, Moderna Inc. (NASDAQ:MRNA), Lucid Group Inc. (NASDAQ:LCID)

Now Read: Bitcoin Mining Stocks Marathon Digital, Riot Platforms And CleanSpark Are Moving Monday: What’s Going On?

Photo: Shutterstock


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