Money Cheat Sheet: Meme Stocks 🍿

Plus, what to know about stocks to start investing. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
 
Ellevest
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This week’s money mood: Meme stocks? 👀

For the majority of investors (like you, we hope!), investing involves a diversified portfolio of stocks and bonds, and maybe some alternatives, too. But the finance industry has about a million ways to make money on money, each one more complex than the last (and much riskier, too).

See: GameStop. Most recently, there’s been a lot of talk about “meme stocks.” (Read some of that talk here, here, and here.) And yet there’s not a ton out there about what they are and why they’re getting so much attention.

What are meme stocks?

Though you might use the word “meme” to describe a funny image with text on it, its true meaning is much bigger than that. By definition, a “meme” is anything with cultural significance that spreads virally.

So “meme stocks” are stocks that:

Have prices that have gone up significantly

Have lots of social media attention, particularly on Reddit’s “WallStreetBets” forum

Are favorites of small or individual stock traders who loosely organize, virtually, and use their aggregate financial power to drive up prices

Have a lot of trading activity

May be heavily shorted, meaning large institutional investors have sold the stock in the belief that it will decline in the future


Here’s a quick, non-jargony explainer on meme stocks, and how exactly Reddit (and one large popcorn) are involved.

 READ THE REST 
 
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Let’s not confuse “trading” with “investing”

Given ~the news~, it makes sense why crypto might have piqued your interest — but let’s get a few things straight.

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Put your money to work this summer

Join Ellevest to take care of Today You and Future You so that you can get back to living a rich life. When you make your first deposit, we’ll drop an extra $20 in your investment account. Use code SUMMER to get your first month free.*

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“I want to start investing, but I don’t know enough about stocks yet.”

We hear this a lot, and most of the time, it’s not true. Here’s what you actually need to know (and what you don’t).

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This newsletter was copyedited by Tasbeeh Herwees while listening to the new episode of This is Uncomfortable. Forward it to your friends who are ready for frank money talk.

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*The “$20 investing credit, 1 month free” Promotional offer is for those who 1) sign up for an Ellevest Membership service (Ellevest Essential, Ellevest Plus, or Ellevest Executive) and 2) make an initial deposit of $1 or more into an Ellevest non-retirement investment account on or before 11:59 PM EST on 7/15/2021 (the “Promotional Period”). This Promotional Offer cannot be applied to an annual or existing Ellevest membership service, and is only available to the first 500 eligible new Ellevest membership clients who redeem it before the Promotional Period ends. This Promotional Offer is not valid in conjunction and cannot be combined with any other offers or promotions. Clients who enroll with promo code “SUMMER” before the end of the Promotional Period will pay no Ellevest Membership fee for the first month of their membership period, starting on the date the membership agreement is acknowledged (the “Effective Date”). After 1 month from the Effective Date, the applicable fees for the Membership service selected will be reinstated and other fees as described in Ellevest’s Wrap Fee Program Brochure and the Ellevest Membership Terms and Conditions Agreement will continue to apply. Membership clients who enroll with promo code “SUMMER” and make an initial deposit of $1 or more to a non-retirement investment account within the Promotional Period will receive $20 added to their Ellevest investment account. Ellevest’s processing time for depositing $20 into a client’s Ellevest account may be up to 90 days after the Promotional Period ends. Ellevest reserves the right to refuse to award you the Promotional offer if it determines, in its sole discretion, that the promotion was claimed under wrongful or fraudulent circumstances, that your participation is against the spirit of the program, that making payment would constitute a violation of your Ellevest Membership Terms and Conditions Agreement or applicable federal or state law, or that incomplete or inaccurate information was provided. Ellevest reserves the right to end or modify any promotion at any time. Ellevest Membership fees are as follows: Ellevest Essential is $1 per month, Ellevest Plus is $5 per month, and Ellevest Executive is $9 per month. Ellevest doesn’t require Members to maintain a minimum investment account balance. However, there are portfolio-specific minimums (ranging from $1 to approximately $240). You may not receive the entire recommended portfolio until your account balance meets the respective portfolio minimum. Ellevest will not rebalance a portfolio until it meets the respective account balance minimum necessary to generate the required shares. This minimum is a function of portfolio allocation and the share price of individual holdings, which will vary
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Funds held in your Ellevest investment accounts are not FDIC insured, not guaranteed by Coastal, and may lose value. Ellevest does not guarantee investment performance.
Ellevest Membership fees are as follows: Ellevest Essential is $1 per month, Ellevest Plus is $5 per month, and Ellevest Executive is $9. Other fees as described in Ellevest’s Wrap Fee Program Brochure and the Ellevest Membership Terms and Conditions Agreement will continue to apply.
 
 
 

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