The Dumb Money Revival: 3 Stocks That Could Enjoy a 2024 Boom | Markets

Hedge funds have become wary of retail investors and have incorporated more social listening to manage the risk associated with short positions. But there’s still plenty of opportunity for meme stock rallies to emulate the success of old favorites. The following are likely to play a key role in a meme stock resurgence this year. 

GameStop (GME)

Many stocks have been the subject of meme investor interest. But none have managed to become so synonymous with the investment strategy quite as much as GameStop (NYSE:GME).

Much of GameStop’s fame in recent years comes from its famous, or infamous depending on your stance, short squeeze in January 2021. That resulted in a seismic rally which saw the stock catapult over 1,500% in the span of three weeks.

Driving this rally was Keith Gill, a stock market influencer who became a cheerleader for the stock. Despite its sharp 2021 rally and collapse from its peak market capitalization of around $28 billion, Gill has allegedly retained his stake in the video game retailer. And, he recently posted a screenshot that showed the investor held $116m worth of GME shares. In total, Gill holds around 2% of all GameStop shares.

The fame of the 2021 meme stock rally has sent Keith…

Source investorplace.com

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