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First meme stocks ETF hits the market
Meme stocks have surged in early 2021 as amateur traders rallied on social media platforms, mainly Reddit.
By Rony Abboud
0
- New Consumers
- Roundhill
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Reddit meme Investors have now an ETF to play with after the Roundhill Meme Stock ETF (MEME) made its debut on December 8th on the NYSE ARCA. MEME will track the Solactive Roundhill Meme Stock Index (“MEME Index”) and will invest in 25 equal-weighted U.S. listed "meme stocks" that are very popular on social media and have high short interest from the bears.
Meme stocks have surged in early 2021 as amateur traders rallied on social media platforms, mainly Reddit, and pumped up stocks such as GameStop Corp. (GME) and AMC Entertainment Holdings, Inc. (AMC) to extreme levels. The MEME ETF could be the tool that caters for that audience and provide them with a diversified exposure to their favorite meme stocks, for an annual fee of 0.69%. As of December 8th, 2021, the fund's main holdings include Digital World Acquisition Corp. (5.35%), Roku Inc. (4.58%), DraftKings Inc. (4.33%), ContextLogic (4.24%) and Snap (4.20%).
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