AMC and GameStop May Soon Feature in a Meme Stock ETF fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
A Super Bowl played during the COVID-19 pandemic was difficult to predict ratings with people not throwing as many parties or going to bars.
What Happened: Super Bowl LV featuring the Tampa Bay Buccaneers and Kansas City Chiefs had an average of 96.4 million viewers on television and. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
The two largest Chinese esports streaming companies are featured in the fund:
DouYu International (NASDAQ: DOYU) and
HUYA Inc (NYSE: HUYA).
Even with the 50% U.S. weighting, Stefanidis told Benzinga that several of the names offer multinational exposure.
“Disney has STAR, one of the largest streaming services in India.”
One name people may not be familiar with in the ETF is J-Stream Inc, which trades in Japan, he said.
“J Stream was the first company in Japan to offer streaming services.”
The company is a holding company with five divisions offering content delivery for companies and also telemedicine. Stefanidis said the company is exclusive to Japan right now, but could expand internationally.
Is GameStop in Your ETF? GameStop has soared during January but is under owned by ETFs given its more than $20 billion market capitalization. Just 63 funds own a position in the company.
There are just 63 ETFs that own shares of Gamestop. Due to soaring investor demand this month, the consumer discretionary stock closed higher than $300 per share on Wednesday with a market capitalization over $20 billion a 10-fold increase from just a few weeks ago. Yet, the stock is not widely held by ETFs, especially compared to consumer discretionary peers. For example, there are 120 ETFs that recently owned The Gap and 88 with a stake in Under Armour, even though these companies currently have lower capitalizations.
One of 2020 s shining examples has been the Renaissance Capital IPO ETF (IPO), up over 111% year to date, Old Mission s Harry Whitton said in a Wednesday interview. The fund has grown to over half a billion dollars this year. It s really exciting, said Whitton, his firm s head of ETF sales trading. I think everybody s tied onto the whole record of IPOs happening this year in December, over 400 new issues launched in the IPO space.
Renaissance Capital expects heavy hitters such as SpaceX and Instacart to debut next year, and with that, the IPO ETF s gains to keep adding up.
Another fund family that s likely to build on its 2020 success is that of Ark Invest, which has brought in over $15 billion in assets year to date, Whitton said.