Meme stocks have been causing a disruption all of 2021. You might have heard of the infamous GameStop and AMC rallies that originated from the Reddit group, r/wallstreetbets.
Here’s a list of meme stocks causing a disruption in the stock market.
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What’s A Meme Stock?
A meme stock is a heavily shorted stock discovered by retail investors, usually on forums such as Reddit or other sub communities.
Retail investors will then hype these so called ‘meme stocks’ and immensely increase the buying pressure of a particular stock to drive the share price up.
How Long Does It Take For A Meme Stock To Go Up?
We’ve seen that these stocks may take a month to several months to see some serious upswings in the market. Retail investors pump the price by buying the dips and holding the stock until their mission is a success.
While not all meme stocks are pump and dumps, the concept is to pump a stock and hold it to further elevate the floor.
The end goal is to squeeze shorts from their positions to drive the stock price ‘to the moon’. Here’s the most current list of meme stocks seen in the community.
#1. GameStop, GME Stock
Number one on my list is GameStop. GameStop notoriously put many short sellers and hedge funds under stress, starting this incredible retail movement.
GME stock began squeezing just below $500 per share before Robinhood halted buying pressure from retail investors, ultimately limiting its growth potential back in January.
This meme stock is currently up more than 1000% year-to-date. Retail investors continue to hold the stock in order to squeeze the remaining shorts from their positions.
#2. AMC Entertainment, AMC Stock
And by far the most popular meme stock at the moment, AMC Entertainment stock. Retail investors who missed getting in early on GME stock saw AMC stock was heavily shorted and decided to bulk up on this meme stock.
The stock sharply rose up to $20 per share in late January before ultimately coming back down to $5 per share. After several months of ‘apes’ buying and holding the stock, AMC Entertainment stock rose to $72 per share and found a new bottom around $32 per share.
The meme stock has been trading in the low $50 range and is currently set up for a short squeeze.
#3. GREE Stock (Formerly, SPRT)
Before its merger with the blockchain compamy Greenidge, SPRT stock had reached a high of $35 per share before ultimately plummeting back to $11. It has now merged with Greenidge and its ticker symbol is now GREE.
This meme stock perhaps lost its status as it still had potential to squeeze higher prior to the merge. However, this stock still caused quite a disruption for short sellers shorting the stock.
This stock has now become a long-term stock depending on your conviction towards blockchain technology.
#4. Vinco Venture, BBIG Stock
BBIG stock is a meme stock that surged from $1.25 to close to $11 per share. The stock’s retail momentum has it up more than 500% this year-to-date.
In order for you to have made massive moves with these stocks you would have had to opened a position in them earlier this year.
While investors who bought these stocks early this Summer still profited, investors who bought after could be breaking even or under significant gains.
These Meme Stocks Still Have Room To Squeeze
What’s mind boggling is that these meme stocks are still heavily shorted by hedge funds and short sellers.
I update the short interest data daily here for these stocks plus other retail favorites.
GME has been in the high $100s but has now reached $200 again. AMC finally broke its floor of $30 per share and is trading in the low $50s again. The other meme stocks show an increase of short interest data which means they still have room for growth.
Want To Stay Updated On These Momentum Plays?
If you’re thinking about investing in one of these momentum stocks, be sure to do your due diligence first before putting some serious cash first.
Once you have the data at hand, make an honest assessment for yourself and decide whether it is the right financial decision for you to make.
The AMC community has proven to be one of the most open, accepting, and positive communities so I definitely recommend checking it out even if it’s to see what the discussions are about.
Luckily, I update the community with trending stocks and keep an eye out on the data so you’re up-to-date on the next stocks to buy before they blow up. My readers who found out about AMC early this year are now up tens to hundreds of thousands of dollars!
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