The Meme trade is back on

Investors would have realised that the APES are back! Even as Bed Bath & Beyond has a challenging period, its stocks are skyrocketing to about 40%. The same applies to AMC and GME, which are up slowly during the Monday trading session.

The adrenaline rush is real as investors aren’t yet convinced that BBBY is at the turning point, even as activist Ryan Cohen aims to help optimise value for shareholders.

As the market turns to a more bullish side, market participants dive into the meme trades in a mundane session.

Green shift = Green stocks?

The passing of the climax and tax bill in the Senate on Sunday is giving renewable energy companies a push in their stock prices. This is especially true for solar panel companies. The bill, known as the Inflation Reduction Act, offers a generous sum of $369 billion in tax credits to clean energy producers.

This covers a broad spectrum of businesses such as solar panels, wind turbines and biofuels. It brings thousands of dollars into consumers’ pockets in subsidies when they buy EVs too. That’s the force behind a strong showing in our favourite Tesla too!

Pika World maintains exposure to the sector.

Nvidia: A rise in the making despite the fall?

The company warned on Monday that its second-quarter results would be affected by a weaker performance in the gaming segment. Analysts are now wondering about the comparative fall in demand from gamers and those in cryptocurrency miners’ businesses.

The preliminary second quarter result is sufficient to dampen the stock’s performance. It comes as Nvidia suffered from a fading demand driven by the early onset of the pandemic. In addition, as Ethereum is shifting from proof of work to validation of stake model, crypto miners may look to sell away their high-end cards. While the transition has not happened, it also means that the demand for high-end graphic cards may wane.

Pika World is accumulating a tiny position in this pullback as we look to add quality companies in a more directionless market.