Five months are on the books for 2021. Some of the best-performing stocks and investments have been ones pushed by WallStreetBets and seen as potential short squeezes. A cryptocurrency based on a meme has also performed well.
From January through May, shares of AMC Entertainment were up 1,132% and shares of GameStop were up 1,078%.
A $1,000 investment in both of these stocks would have been a strong performer for an investor.
Investing $1,000 in AMC Entertainment would have bought around 472 shares of the company before Jan 1. The $1,000 investment was worth $12,328.64 at the end of May.
Investing $1,000 in GameStop would have bought around 53 shares of the company before Jan. 1. The $1,000 investment was worth $11,766.00 at the end of May.
Compare those strong returns to the S&P 500 ETF Trust (NYSE:SPY) which was up 12% through the end of May. A $1,000 investment in SPY was worth $1,121.51 at the end of May.
Several closely followed large-cap stocks like Apple Inc (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN) and Tesla Inc (NASDAQ:TSLA) are all trading down in 2021 through the first five months, producing a negative return on a hypothetical $1,000 investment in any of those top names.
Dogecoin and Bitcoin: One of the most talked-about cryptocurrencies in 2021 has been Dogecoin. The cryptocurrency has been a strong performer for those who got in before the start of 2021.
Dogecoin hit all-time highs of $0.7376 in May before falling to monthly lows of $0.2183. Investors who bought Dogecoin on or before Jan 1 have done quite well.
A $1,000 investment in Dogecoin could have bought 213,584 coins on Jan 1. That investment was worth $70,482.72 at the end of May.
Compare the $1,000 investment in Dogecoin to the same one in Bitcoin that was worth $1,287.24 at the end of May.
Benzinga’s Take: The investing world has been a rollercoaster in 2021 led by several top stock ideas from popular investing platforms for retail traders such as WallStreetBets.
There is no guarantee that these stocks will continue to outperform the market.