EXCLUSIVE: GameStop, AMC Buzz 'May Prove To Be Short-Lived,' CEO Of Company Behind MEME ETF Tells Benzinga
Portfolio Pulse from Chris Katje
Roundhill Investments CEO Dave Mazza discussed the potential short-lived nature of the current meme stock rally, driven by renewed interest in stocks like GameStop (GME) and AMC Entertainment (AMC). The MEME ETF was closed in November 2023 due to low assets and trading volume. Roundhill's other ETFs, including MAGS and CHAT, are performing well, with significant holdings in major tech companies. A new ETF focused on weight-loss drugs is also in the pipeline.
May 17, 2024 | 7:04 pm
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NEUTRAL IMPACT
AMC Entertainment (AMC) is part of the current meme stock wave, but its recent share issuance may dampen the rally.
AMC's plan to issue 23.3 million shares in a debt-for-equity swap could increase supply and limit the stock's rally.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
GameStop (GME) is experiencing renewed interest due to social media activity, but the rally may be short-lived.
The CEO of Roundhill Investments highlighted GME as a key player in the current meme stock wave but suggested the rally might not last long.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Roundhill's CHAT ETF, focused on AI and technology, is performing well with significant holdings in major tech companies.
The CHAT ETF has strong interest and significant holdings in major tech companies, indicating positive performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Roundhill's MAGS ETF is thriving, offering equal weight exposure to major tech stocks.
The MAGS ETF has crossed $1 billion in assets under management, indicating strong performance and interest.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Roundhill is launching a new ETF focused on weight-loss drugs, with exposure to companies like Novo Nordisk and Eli Lilly.
The new ETF will provide exposure to the growing market of weight-loss drugs, which has seen significant interest and stock price increases.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70