Roaring Kitty Rally 3.0? 3 Meme Stocks Ready for Round Three

Group 1: Meme Investing Landscape - The events of January 2021 and the rise of GameStop sparked a new wave of meme investing, driven by retail investors coordinating to inflate stock values based on sentiment [1] - Markets are experiencing a new wave of optimism, with the S&P 500 recovering its 2022 losses and reaching 5,572 [2] - GameStop remains a central figure in meme investing, with renewed retail interest likely to impact its stock performance [4][17] Group 2: GameStop (GME) - GameStop reported Q1 2024 net sales of $882 million, down from$1.237 billion in the same quarter the previous year, highlighting ongoing challenges [16] - Despite its struggles, GameStop's status as the leading meme stock continues to attract retail investors [17] - During Q2 2024, GameStop's stock peaked with a rally of approximately 306.59% before experiencing a correction, finishing the quarter with over 105% growth [14][15] Group 3: Palantir (PLTR) - Palantir reported Q1 2024 revenue of $634 million, a 21% year-over-year increase, surpassing analyst estimates [9][18] - The stock has consistently outperformed the market, growing by 52.77% in the first two quarters of 2024 [19] - Palantir's strong fundamentals and popularity among retail investors position it as a potential meme investment opportunity [10][24] Group 4: Chewy (CHWY) - Keith Gill, known as "Roaring Kitty," has acquired over nine million Class A shares in Chewy, representing a 6.6% stake in the company [11] - Chewy is currently more than 77% below its all-time high value from February 2021, indicating significant room for potential growth [21] - The connection between GameStop CEO Ryan Cohen and Chewy may enhance Gill's interest in the company, potentially influencing its stock performance [26]