Return of the Meme Stock? 3/27/24

A new class of meme stocks has arrived. Trump Media, or DJT, is perhaps the most divorced from fundamentals. The newly-merged SPAC closed yesterday with a nearly $8 billion market cap and is up 17% today. Newly-public Reddit has also been also volatile – up nearly 70% since its IPO but falling 11% today. It all underscores a market that is increasingly driven by momentum… and retail investors.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.