Thesis Summary
Meme stocks made a notable comeback last week, with Gamestop (GME) and AMC (AMC) experiencing triple-digit returns in just a few days. While these stocks have since crashed back down, the appetite for explosive rallies remains strong.
If you’re on the hunt for the next big meme stock, look no further than this one. This levered Bitcoin (BTC-USD) play is poised to explode as crypto prices continue to rise. Based on current trends, I wouldn’t be surprised to see this stock triple from its current value.
What is a Meme Stock?
This company fits the definition of a meme stock perfectly. According to Investopedia,
a meme stock refers to the shares of a company that have gained viral popularity due to heightened social sentiment, usually driven by activity on social media platforms.
This business has gained viral popularity through its aggressive crypto strategy, and both the company and its CEO have seen significant spikes in interest, as evidenced by Google Trends. This popularity is also reflected in the mentions of this stock on WallStreetBets, which played a key role in the original Gamestop squeeze.
A Levered Bitcoin Play
You probably already know which stock I am talking about, but don’t tune out yet.
Below, I’ll discuss why exactly I expect this stock to triple and discuss the key technical levels to watch out and better manage risk.
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