“The Meme Stock Trade Is Far From Over, It Is Just Beginning“– Paul Ebeling
AMC (NYSE:AMC) stock, the biggest meme stock struggled following Tuesday’s 25% gainer. The stock was down almost 1%, but remains above the Key 50-Day MA, the stock has a perfect Relative Strength Rating of 99.
GameStop (NYSE:GME) slipping almost 2% back under its 21-Day MA, and lost further ground on its 50-Day MA line.
Virgin Galactic (NASDAQ:SPCE) stock was trying light up again following Tuesday’s dip. It was up almost 4% and is looking to retake its 50-Day MA.
Eventually the memes should trade based on business fundamentals, like most stocks. But for now they continue to move on the action from the retail traders.
Have a prosperous day, Keep the Faith!