
Isn’t there a meme stock ETF?


GameStop Shares Double as Gill Post Shows $116 Million Bet
Shares rise as much as 105%, before paring some of the gains

https://www.bloomberg.com/news/articles/2024-06-03/gamestop-s-meme-moment-returns-again-with-gill-s-reddit-post?srnd=homepage-asia

Isn’t there a meme stock ETF?   GameStop Shares Double as Gill Post Shows $116 Million Bet Shares rise as much as 105%, before paring some of the gains  https://www.bloomberg.com/news/articles/2024-06-03/gamestop-s-meme-moment-returns-again-with-gill-s-reddit-post?srnd=homepage-asia

Nikolas Kong

Many of the 87 U.S.-listed exchange-traded funds that hold GameStop stock are benefiting from the spike.

The Amplify Video Game Tech ETF (GAMR), which holds a 3.1% weighting in the stock, gained 1.9% on Monday and another 5.5% on Tuesday.

The Schwab Crypto Thematic ETF (STCE), which has a 1.9% stake in the company, rose by 3.2% on Monday and 4.9% on Tuesday.

Many of the 87 U.S.-listed exchange-traded funds that hold GameStop stock are benefiting from the spike.  The Amplify Video Game Tech ETF (GAMR), which holds a 3.1% weighting in the stock, gained 1.9% on Monday and another 5.5% on Tuesday.  The Schwab Crypto Thematic ETF (STCE), which has a 1.9% stake in the company, rose by 3.2% on Monday and 4.9% on Tuesday.

Cyril

unfortunate timing 🫣 At the time of its closing, MEME held a 4.1% position in GameStop, as well as sizable holdings in Affirm, Coinbase, Spirit Airlines, and Robinhood—other meme stocks and quasi-meme-stocks that have soared this week.  

MEME’s shuttering is indicative of the difficulties in timing meme stocks and how ephemeral their gains can be. The exchange-traded fund launched in Dec. 2021, 11 months after GameStop’s first meme stock rally ended.  

Then it shut down this past December, five months before the next meme stock rally kicked off.

In other words, MEME missed both meme stock rallies, but was exposed to all of the meme stock downside.

It’s a cautionary tale for fund issuers who might decide to launch similar ETFs in the future: timing is everything when it comes to meme stocks.

The best known one shut down just in time to miss this rally 🫠

https://www.reuters.com/markets/roundhill-shut-meme-etf-due-flagging-investor-interest-2023-11-28/

The best known one shut down just in time to miss this rally 🫠  https://www.reuters.com/markets/roundhill-shut-meme-etf-due-flagging-investor-interest-2023-11-28/

Illegitimi non carborundum

Let's Geek Out 🤓

unfortunate timing 🫣 At the time of its closing, MEME held a 4.1% position in GameStop, as well as sizable holdings in Affirm, Coinbase, Spirit Airlines, and Robinhood—other meme stocks and quasi-meme-stocks that have soared this week.    MEME’s shuttering is indicative of the difficulties in timing meme stocks and how ephemeral their gains can be. The exchange-traded fund launched in Dec. 2021, 11 months after GameStop’s first meme stock rally ended.    Then it shut down this past December, five months before the next meme stock rally kicked off.  In other words, MEME missed both meme stock rallies, but was exposed to all of the meme stock downside.  It’s a cautionary tale for fund issuers who might decide to launch similar ETFs in the future: timing is everything when it comes to meme stocks.

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Roundhill Investments announced the closure of its exchange-traded fund tracking the performance of meme stocks nearly two years after its launch, putting another nail in the coffin of the popular pandemic-era trade.

Roundhill to shut MEME ETF due to flagging investor interest

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I have a little bit of METV and BUZZ if those qualify.  I don’t recommend either, although it turns out a lot of the metaverse bs that completely missed is applicable for #Artificial Intelligence 

https://www.nasdaq.com/articles/3-best-meme-etfs-to-buy-now

I have a little bit of METV and BUZZ if those qualify.  I don’t recommend either, although it turns out a lot of the metaverse bs that completely missed is applicable for #Artificial Intelligence   https://www.nasdaq.com/articles/3-best-meme-etfs-to-buy-now

Nikolas Kong

A group of likeminded people in The Most Important Thing are talking about this.