Meme stocks are once again generating interest for retailers: report


By CNBCTV18.com IST (Released)

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The S&P 500 has also risen 12.58% over the past month on action by the Federal Reserve to ease inflation fears.

Meme stocks like Bed Bath & Beyond and AMC Entertainment Holdings are seeing renewed interest from retail investors in the U.S. as retail investors return to markets. The NASDAQ gained for the fourth straight session as stocks rose on waning fears of an inflation-linked slowdown. The S&P 500 also rose 12.58% over the past month on action by the Federal Reserve to ease inflation fears.

“We’re not claiming the market will hit new highs this year (we’re more in the trading range camp), but we wouldn’t be surprised to see a run for the highs as inflation wanes and the Fed is slowing the pace of rate hikes,” said Michael Darda, chief economist and market strategist at MKM Partners, in a note.

With more confidence in the markets, retail investors bought an average of $1.35 billion a day of U.S. stocks and exchange-traded funds in August alone, as reported by Wall Street. Log. Retail investor favorites include ETFs like SPDR S&P 500, Invesco QQQ Trust, ProShares UltraPro QQQ and ProShares UltraPro Short QQQ as well as shares of technology companies like Tesla, AMD, Apple, Meta, Nvidia, Amazon and Intel.

But “meme stocks,” companies whose shares are often bought solely for their popularity on social media and platforms like the r/wallstreetbets subreddit, like BB&B (up 154.92% over the past month), AMC Entertainment (up 61.43% over the past month) and Gamestop (up 15.35% over the past month) also performed well.

Despite the rally from the June low, investors are still cautious about the 2021 bull rally which saw a record amount of money flow into speculative investments like tech stocks, meme stocks and crypto tokens. change.


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