Previous Close | 15.50 |
Open | 13.05 |
Bid | 13.20 x 1200 |
Ask | 13.21 x 900 |
Day's Range | 12.80 - 13.72 |
52 Week Range | 11.83 - 27.65 |
Volume | |
Avg. Volume | 3,636,057 |
Market Cap | 4.028B |
Beta (5Y Monthly) | -0.38 |
PE Ratio (TTM) | 658.50 |
EPS (TTM) | 0.02 |
Earnings Date | Jun 05, 2024 - Jun 10, 2024 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | Mar 14, 2019 |
1y Target Est | 5.88 |
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Meme stocks have wiggled their way back into Wall Street conversations as social media companies Trump Media & Technology Group (DJT) and Reddit (RDDT) began trading at high valuations despite the companies actively losing money. Public COO Stephen Sikes and Interactive Brokers Chief Strategist Steve Sosnick join Yahoo Finance to discuss the renewed interest in meme stocks, FOMO investing, and what investors need to keep in mind when considering chasing this trend. Sosnick explains his rubric for the hallmarks of a meme stock: "Number one is sort of a quasi-religious fervor. It's one thing to be enthusiastic about a stock. It's another thing to just be so hyped up about it. Think about how the real apes were in AMC (AMC), the real devotees in GameStop (GME) early on. Certainly one could say that about the former president's base, who I think has helped getting DJT stock moving. Second, and sort of part and parcel with this, is disregard for fundamentals. If you're believing in the faith of the stock, if you have... a non-analytical view of the stock, then you can disregard the fundamentals." Sikes breaks down one of the reasons behind the increased activity behind these stocks: "Retail investors really love to follow trades that they are familiar with. Companies they know, companies they understand, and you know, familiarity can come from again them being customers that use the products or even learning about it on social media or Reddit like we've seen with this sort of meme stock trade. So, I think that level of familiarity really drives retail investor interest." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Nicholas Jacobino
It's another big day for meme stocks. GameStop (GME) shares fell sharply at the open after the video game retailer reported disappointing fourth-quarter results. One stock on the rise is Trump Media & Technology Group (DJT). The parent company of social media site Truth Social soared for a second day after officially merging with Digital World Acquisition Corp. and adopting the new name and ticker. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Stephanie Mikulich.
Its stock price is soaring–but a Wedbush analyst warns the platform doesn’t have the profitability to back up the hype.