The Sundial Growers Inc. (SNDL) faced a major drop over the last 15 days marking a 0.013% decrease. The stock was worth $1.3950 on June 3 and today it dropped to $1.0005 as of today. The cause for the drop would be on the Wall Street Journal or the Wall Street itself.
The Wall Street Journal reported that a collection of new exchange-traded funds has been created in order to satisfy meme stocks, chasing returns, which made new investors cash in the meme mania over the internet. Newbie investors may be hoping that the people who run these funds can manage the market better than them. But according to a 2020 Standard % Poor’s study, at least 82% of the fund experts underperform in the basic of S%P 500 index in their trading.
Wall Street funds keep betting millions, tens of millions, and even hundreds of millions at one time on meme mania stocks. It outweighs the influence of thousands of other new stock traders on the market who have been betting meme stocks over the last years. Many Reddit users contribute to panic and lose money because of selling at the wrong time. Newbie Investor’s best strategy to bet would be to not bet at meme mania stocks at all.
Finance and Entertainment Reporter
Richard is a bottle of wine – the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.