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.
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