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Wild popularity of GameStop and AMC leads to ETF distortion
Rules-based passive vehicles have had no option but to allow the meme stocks’ weightings to increase dramatically
By Steve Johnson
June 14, 2021
- Equities
- Third-Party
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Popular meme stocks GameStop and AMC Entertainment may not seem like the most obvious “value” stocks after the recent surge in their share prices. The lossmaking video game retailer trades at 35.2 times book value, 10 times its industry median, and at an enterprise value of 381 times forward underlying earnings, 51 times that of its typical peer. Cinema chain AMC’s underlying earnings are forecast to be negative even in the coming 12 months, rendering its financial ratios even harder to perceive as “value”.
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Since our founding in 2016, we have been at the forefront of the industry, delivering accessible, comprehensive, and reliable tools to support the evolving needs of investors.
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Together, we are committed to offering advanced services that empower professional investors, advisors, institutions, and issuers. This new step enables us to deliver even more comprehensive and innovative technological solutions, driving ETF investing to new heights.
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