The market rally sparked by Donald Trump's election victory has led to substantial gains for companies like Nvidia and Tesla, as well as a surge in the cryptocurrency market. GameStop, the original meme stock, has also experienced a significant climb in its stock price. However, there are no discernible factors contributing to the rally, indicating that it may be driven by broader market trends rather than specific catalysts for these stocks. The performance of other meme stocks like AMC Entertainment Holdings and Blackberry also supports this notion. The recent climb in meme stocks may be inspired by the losses suffered by short-sellers after Trump's victory. Overall, meme assets, including joke-based cryptocurrencies like Dogecoin and Shiba Inu, have been performing well in the current market.
- Content Editor ( finbold.com )
- 2024-11-12
Forget Bitcoin: The O.G. meme stock GameStop is rallying