The meme stock wave that made headlines in 2021 is back in focus as the latest market rally pulls speculative bets back into the spotlight. Investors are showing renewed interest in these stocks as the end of the year approaches.
DataTrek Research’s cofounders, Nicholas Colas and Jessica Rabe, dissected the recent performances of ETFs related to popular meme stocks. These ETFs include the Roundhill MEME ETF (CRYPTO: MEME), the Robotics & AI ETF (CRYPTO: BOTZ), and iShares Russell 2000 Growth (CRYPTO: IWO), reported Business Insider.
DataTrek stated: “The upshot: the reemergence of meme stocks shows investors’ animal spirits are starting to run hot again.”
Over the five trading days leading up to Tuesday, these funds outperformed the S&P 500, despite a widespread equity rally and declining Treasury yields.
In that period, MEME, BOTZ, and IWO witnessed gains of ...