FiscalFusion

A resurgence of meme stock interest has prompted the return of a one-stop fund for the volatile and quirky investments, as Roundhill Investments launches a meme ETF consisting solely of meme stocks. The move comes two years after the ETF provider closed the fund due to slumping interest; the new fund now trades under the symbol “MEME.” Investors have sporadically returned to meme stocks throughout 2025 in search of bargains in an otherwise pricey stock market, with the S&P 500 repeatedly setting records and making value harder to find. “Meme stocks started as a rebellion but have grown into a revolution,” said Dave Mazza, CEO of Roundhill Investments.

“With MEME, we offer investors a tool to capture that power through an actively managed ETF that can rotate quickly into the stocks dominating the conversation today.” The ETF’s largest holding is Opendoor Technologies, which has had a turbulent year: after trading below $1 per share through early July, it surged above $3 as hedge fund manager Eric Jackson promoted it on X, later gaining more momentum to close above $9 on Tuesday. Other heavyweights include hydrogen fuel cell company Plug Power and data center operator Applied Digital. Meme stocks typically involve companies with weak or uncertain financial prospects that inexplicably gain traction online, often becoming targets of short sellers.

When short sellers face rising prices, other investors may buy shares to trigger a “short squeeze,” forcing short sellers to buy back shares to limit losses, which in turn drives prices even higher. The strategy is highly risky, and gains can vanish as quickly as they appear. Some of the notable meme stocks making big moves this year include Krispy Kreme, GoPro, and Beyond Meat.

The original meme stock, GameStop, became famous in 2021 when investor Keith Gill — known as “Roaring Kitty” — rallied online traders to buy shares as major investors were betting against the struggling retailer, sending its stock soaring and reshaping the meme stock phenomenon..