Return of the Meme Stock? 3/27/24

TechCheck

English - March 27, 2024 18:48 - 8 minutes - 7.55 MB - ★★★★★ - 51 ratings
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A new class of meme stocks has arrived. Trump Media, or DJT, is perhaps the most divorced from fundamentals. The newly-merged SPAC closed yesterday with a nearly $8 billion market cap and is up 17% today. Newly-public Reddit has also been also volatile – up nearly 70% since its IPO but falling 11% today. It all underscores a market that is increasingly driven by momentum… and retail investors.