News Formal

Meme stocks ride on, though investors more cautious than GameStop era

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

More than two years since a breathtaking surge in shares of GameStop captivated Wall Street, the meme stock phenomenon continues to defy predictions of its demise. Yet the retail investors who have driven past meme stock moves appear to have become more cautious after last year's market selloff, while rallies in the shares of the often small and heavily-shorted companies bearing the meme stock label have tended to be more fleeting. Here are some charts illustrating what has changed, and what has not, in meme stocks.

NEW YORK - More than two years since a breathtaking surge in shares of GameStop captivated Wall Street, the meme stock phenomenon continues to defy predictions of its demise.

The Roundhill MEME ETF, which tracks the performance of a basket of meme stocks, is down about 55% from where it started trading in December 2021, though up about 38% for the year. Individual investors may still be licking their wounds after a drubbing in markets last year, with the average retail portfolio off between 20% and 25% from its all-time highs, compared to the S&P 500, which is off 8.3% from its 2022 peak, said Marco Iachini, Vanda's senior vice president.

Jonathan Krinsky, chief market technician at BTIG, said the most recent rally in suggested traders had been hunting for "lower quality" stocks they believed could catch up with shares that had already soared.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 47. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Meme stocks ride on, though investors more cautious than GameStop eraThe phenomenon continues to defy predictions of its demise.
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Stock market today: Wall Street rises in early trading, though bond yields remain highNEW YORK (AP) — Stocks are opening slightly higher on Wall Street following some encouraging profit reports from big companies. The S&P 500 was up 0.3% early Thursday, trimming its slump for August.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Wall Street slumps again as higher bond yields keep bitingNEW YORK (AP) — Wall Street fell for a third straight day as rising yields in the bond market keep cranking up the pressure. The S&P 500 lost 0.8% Thursday, with August on track to be its worst month of the year by far.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Global shares decline after Wall Street drops on higher bond yieldsTOKYO (AP) — Global shares mostly slipped Friday as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S. France's CAC 40 declined 0.9% in early trading to 7,126.02. Germany's DAX dipped 0.8% to 15,553.22. Britain's FTSE 100 shed 0.8% to 7,255.18. U.S. shares were set to drift lower with Dow futures down 0.1% at 34,503.00. S&P 500 futures fell nearly 0.1% to 4,381.75. Japan’s inflation data showed consumer prices rose 3.1% from a
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »