Top 7 Meme Stocks of 2024: The Craze Dominating Online Forums 👾

The rise of social media-driven “meme stock” frenzies was one of the defining market phenomena of the early 2020s.

While that initial wave has ebbed, 2024 has seen a resurgence of viral, momentum-driven trading around a familiar cohort of companies capturing the imagination of the WallStreetBets crowd.

While fundamentals take a backseat, crowd sentiment rules in an environment where viral enthusiasm can fuel asset prices untethered from traditional valuation models. Art Courtesy: @cryptomkg

Here’s a look at the top 7 names fueling the meme revival this year:

GameStop (^GME)
The original meme stock, GameStop has seen its shares surge amid a rekindled short squeeze. Undeterred by the company’s continued struggles, retail investors remain convinced in an epic turnaround for the video game retailer.

TheRoaringKitty’s updated portfolio on GameStop after closing his $20 call options expiring June, 21, 2024. He now has almost doubled his position from 5 million shares to 10 million shares, making him the 4th largest GameStop shareholder. via reddit r/superstonk

AMC Entertainment (^AMC)
The meme stock mania’s emblematic “AMC to the moon” rally has reignited, with the movie theater chain’s shares skyrocketing. Retail traders have doubled down on AMC’s meme status despite its strained finances and streaming threats.

Faraday Future (^FFIE)
The electric vehicle SPAC play Faraday Future, with abundant short interest, has re-emerged as a prime meme stock thanks to its ardent…