BZ Chart Of The Day: Memes Meltdown

The meme meltdown continues. The Listed Funds Trust - Roundhill MEME ETF MEME has plunged by more than 40% since its debut on Dec. 8, 2021.

Meme stocks are popular in the Reddit day trading community. MEME is an ETF that holds a portfolio of them., including Roblox Corporation RBLX, Snap Inc. SNAP, and QUALCOMM Incorporated QCOM.

This makes MEME a good benchmark for this part of the stock market.

A year ago, it seemed like the only way these stocks could move was higher. But reality has set in, and many of them have dropped by 80% or more. It looks like the downtrend will continue.

Loading...
Loading...
QCOM Logo
QCOMQualcomm Inc
$151.75-1.22%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
22.75
Growth
77.09
Quality
84.10
Value
49.83
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Comments
Loading...