trading again<\/a> after its predecessor launched in December 2021 and shut down in November 2023.<\/p>\n\u201cMeme stocks were a large part of the exuberant sentiment in the 2020-2021 market, ultimately leading to a cyclical peak,\u201d writes Jonathan Krinsky, BTIG\u2019s chief market technician. \u201cOne sign that the froth was reaching fever pitch was the launch of a ‘Meme ETF’ on 12\/8\/21. That was essentially the peak in the Nasdaq before the ’22 bear market.\u201d<\/p>\n
He notes that the Nasdaq has rallied 60% since the ETF shuttered in 2023.<\/p>\n
\u201cHistory doesn’t repeat, but it often rhymes and this is another sign of some exuberance right now,\u201d Krinsky writes. \u201cIt has been a relentless climb with very little pullbacks, but that doesn’t mean the divergences and issues in the consumer stocks should be ignored.\u201d<\/p>\n
This time around, the ETF\u2019s top holdings include Opendoor Technologies, Plug Power, Applied Digital, QuantumScape, Cipher Mining, and Rigetti Computing. It’s return hasn’t scared off Wall Street so far: The Nasdaq is up 0.8%. The S&P 500 is up 0.6%. The Dow is up 194 points, or 0.4%. The actual Roundhill Meme Stock ETF is down 2.6%.<\/p>\n","protected":false},"excerpt":{"rendered":"If you needed another sign that the market was getting very frothy, the Roundhill Meme Stock ETF is…\n","protected":false},"author":2,"featured_media":1714,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[72,61,60,123],"class_list":["post-67653","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-ie","tag-ireland","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/67653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=67653"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/67653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/1714"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=67653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=67653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=67653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}