There’s a lot of significance behind the timely return of investing influencer Keith Gill, who is best known by his YouTube and X persona, “Roaring Kitty.” Gill was a driving force behind the 2021 meme stock frenzy that saw GameStop’s stock briefly soar 4,000% in a now infamous short squeeze. Now, there are several meme stocks ready to go to the moon.
But what’s so significant about Gill’s return in 2024? Crucially, markets have embarked on a new wave of optimism that hasn’t been seen since the time of the last meme stock rally in 2021. With expectations of Federal Reserve rate cuts on the horizon, the S&P 500 has recovered its 2022 losses and sits in uncharted territory at 5,572 at the time of writing.
This makes conditions ideal for retail interest and the return of meme investing, and these three meme stocks could be the biggest beneficiaries should the Roaring Kitty rally 3.0 take place in the second half of 2024.
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