The 17 April sale price, which translates to 180 Ethereum, was reached almost two months after Christie’s in New York auctioned a jpg digital file made by Mike Winkelmann, the digital artist known as Beeple, for $69.3m with fees. She told the Raleigh News & Observer: “Nobody who is a meme tried to do that, it just ended up that way. Whether you’re having a good experience or a bad experience, you kind of just have to make the most of it.” Roth, who says she plans to use the proceeds to pay off her student loans and donate additional money to charity, told the New York Times: “The internet is big. If it continues, both stocks could start rising and move out of meme stock territory before the next Fed meeting.Roth, now aged 21 and a university student, sold the image through Ben Lashes, an NFT, or non-fungible token, entrepreneur who has racked up about $2m in sales for sales including Nyan Cat, Grumpy Cat, Keyboard Cat, Doge, Success Kid and David After Dentist. Additionally, both stocks have been rising today on speculation that the Federal Reserve will cut interest rates in September. Wall Street clearly isn’t too sour on either company, as is evidenced by the fact that JPMorgan Chase recently upgraded WAL to an “overweight” rating. However, there are other factors to consider when assessing the likelihood of PACW and WAL becoming the next meme stocks. ![]() During the bull market, the heavy trading helped shape the fortunes of those two companies, allowing them to raise money and-in AMC’s case- helping to save it from financial distress.” Several of those companies were heavily bet against, making them a target for individual investors and at times helping worsen their swings. “The activity is reminiscent of the meme-stock mania of 2021, which drew hordes of traders in to play the intense volatility in names such as GameStop and AMC Entertainment. These types of rumors can make for a tempting opportunity for the r/WallStreetBets crowd, as trading activity today suggests. Yesterday, both PACW and WAL were falling and battling rumors of an encroaching FDIC death. But that doesn’t mean they won’t shift their focus to other fallen companies. In fact, unstable meme stock Mullen Automotive (NASAQ: MULN) allegedly has a new investor army behind it, even as the company faces severe complications. Failed attempts to drive up AMC and Bed Bath & Beyond haven’t discouraged them. Since the GME short squeeze of 2021, investors have been looking for the next meme stocks. Let’s dive deeper into this complicated topic. However, this doesn’t necessarily mean that PACW and WAL will be the next GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC). If regional banks continue falling out of favor with Wall Street, they could start to fit the r/WallStreetBets criteria. Meanwhile, retail traders may be seeking new meme stocks to throw their weight behind following the fall of former favorite Bed Bath & Beyond (OTCMKTS: BBBYQ). Shares of both PacWest Bancorp (NASDAQ: PACW) and Western Alliance (NYSE: WAL) have fallen significantly, leading to speculation of the Federal Deposit Insurance Corporation (FDIC) closing in. The banking crisis has wreaked havoc on regional banks, shuttering companies such as First Republic Bank, which recently delisted from the New York Stock Exchange. But the timing is such that now it warrants an in-depth analysis. ![]() This morning, The Wall Street Journal posted an interesting question: “Are regional banks the new meme stocks?” The concept might have seemed outlandish a few months ago.
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