Tag: GREE Stock

4 Meme Stocks Causing A Disruption In The Market

Meme Stocks Reddit
Meme Stocks List

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

GameStop Meme 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.

Read: Will GameStop see a massive short squeeze again?

#2. AMC Entertainment, AMC Stock

AMC Meme 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.

Read: How high can AMC stock price skyrocket up to?

#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.

Read: What does an SPRT merge with Greenridge mean for retail?

#4. Vinco Venture, BBIG Stock

Vinco Ventures Meme 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!

And lastly…

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Consider subscribing to the newsletter for more content like this, straight to your inbox! Do you have a position in any of these meme stocks? Or as I like to refer as momentum stocks. Let me know in the comment section below.

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What Does An SPRT Merge With Greenidge Mean For Retail?

SPRT Gree merge

If you logged in to your broker account to see SPRT stock not showing up do not worry. SPRT is undergoing the merger transition with Greenridge, ticker symbol GREE.

The combined company will trade under GREE moving forward. Lets discuss what this will mean for SPRT shareholders.

franknez.com

Welcome to Franknez.com – SPRT stock has been declining but there’s great news on the horizon. If you’re still holding SPRT stock and are facing losses, chances are you can still profit from the merge.

Lets get started!

SPRT Merges With Greenidge

SPRT merged with Greenidge Generation Holdings, a Bitcoin mining company on Tuesday, September 14th. SPRT stock is supposed to be trading under ticker symbol GREE as of Wednesday, September 15th but I assume most people will see the activity change the next trading day.

According to Market Realist, investors won’t be able to access SPRT stock because current shareholdersโ€™ shares will convert to the newย โ€œGREEโ€ stock symbolย at the ratio agreed upon in the merger.

GREE stock is currently trading above $40 per share. The talk is this merge will either make or break SPRT stock.

Common stock shares of Support.com will be canceled and automatically converted, providing the right to receive 0.115 shares of the new Greenidge Class A common stock.

What Will Happen To My Money With SPRT During The Merge?

Your money will either be unchanged or you will see positive gains once the merge has been finalized. This will highly depend on how well this merge does in the markets.

SPRT last traded closer to $12 per share. GREE is trading in the mid $40s. GREE stock is up much higher which means SPRT shareholders may have just multiplied their base-worth.

How Many Shares Will I Have Of GREE Stock After The Merge?

According to SeekingAlpha, the conversion is 1 share of Greenidge for about 8.7 shares of SPRT stock. So although shareholders will have less shares after the merge is complete, there is still hope.

Here’s why I’m bullish on GREE stock.

With the price climbing to the mid $40s, it could put pressure on shorts to cover their positions. Granted, the short interest is still unavailable. However, the stock that was SPRT was still borrowed and must be repaid.

The second reason I’m bullish is because even if shorts have no incentive to cover, you are now investing in a blockchain company. Blockchain companies are going to be the future of security so investing in GREE could prove to be a great long term investment.

Greenidge is also working on a ton of amazing projects that are going to compound as they continue to improve the way our world runs with the latest technology.

My personal take is that if we squeeze shorts from their positions, great! Otherwise, I will be buying this blockchain stock and holding it strong as a long-term play.

I’m excited.

Should You Sell Your GREE Stock?

I’m personally not selling this pot of gold. In fact, I’m buying. Visit Greenidge’s website to see what value they’re going to be bringing to our generation.

It’s companies like these that you want to catch early before they blow up a year, two, and even a decade later.

I’m going to be publishing a new article on GREE stock so be sure to subscribe to the newsletter to be notified when it’s out.

And lastly…

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I’d love to know your thoughts on this merge. Will you be holding, will you be selling? Let me know you thoughts in the comment section below. Lets talk about it.

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