The meme-stock rally of 2024 was, for the most part, very short-lived. Moreover, most of the meme stocks became stocks to sell by quickly retreated to points not far above their pre-rally levels.
Meme stocks, which are trading largely divorced from company fundamentals, have seen a resurgence last week when social media user Roaring Kitty posted for the first time in years.
As the saga surrounding GameStop (NYSE: GME) seemingly draws to a close, as GME stock went from $65 to $22 in just three trading sessions after a staggering loss of 65% over the same period, GME stock is showing signs of recovery in the pre-market, with gains of 3.29%.
When it comes down to it, most companies are measured on financial performance. Even if their stock trades wildly high or lower, there must be a benchmark.
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