During a discussion on CNBC’s “Squawk Box” on April 22, JJ Kinahan agreed that Bitcoin has been a good retail sentiment indicator in many ways as people believed it to be.
JJ Kinahan believes meme stocks such as GameStop, Robinhood, and AMC Entertainment have more sustainable long-term volumes now, despite the decline in stock prices.
In addition, the Federal Reserve’s reaction to the rising inflation rate and expectations of investors on meme stocks will be key for future growth prospects.
Meme stocks such as GameStop, Robinhood, and AMC Entertainment skyrocketed in 2021 as trading volumes shot to record levels.