Matt Phillips, asks in his piece, “Are Palantir and CoreWeave meme stocks?” It’s a good place to start today’s special trader edition of Snacks, which will also return to one to look at what’s happened to the OG meme stock,
Good question Matt are they?
Yes, Mark Zuckerberg is reportedly unhappy with where his company stands in the race for AGI (artificial general intelligence), and if he wants to win, he’s got to cut some deals.
AI hype stays strong
GameStop in particular has had a bad time copying the strategy. Buying bitcoin is an arbitrage play for Strategy that lets management take advantage of the elevated valuation of its shares. For GameStop, it’s something that puts the source of its premium valuation at risk.
Tradfi still not getting it
But Adam thinks they fumbled the ball.