If you invested $ 1,000 in Dogecoin, AMC, and Gamestop on January 1, here’s how much you would have now – AMC Entertainment Holdings (AMC)
Five months are scheduled for 2021. Some of the best performing stocks and investments were pushed by WallStreetBets and viewed as potential cuts. A meme-based cryptocurrency has also worked well.
AMC and GameStop: Two of the best performing stocks of the year were AMC Entertainment Holdings Inc (NYSE: AMC) and GameStop Corp. (NYSE: GME).
From January to May, shares of AMC Entertainment rose 1,132% and those of GameStop by 1,078%.
An investment of $ 1,000 in these two stocks would have been very successful for an investor.
A $ 1,000 investment in AMC Entertainment would have bought approximately 472 shares of the company by January 1. The $ 1,000 investment was worth $ 12,328.64 at the end of May.
Investing $ 1,000 in GameStop would have bought about 53 shares of the company by January 1. The $ 1,000 investment was worth $ 11,766.00 at the end of May.
Compare these good returns to S&P 500 Trust ETF (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 large cap stocks closely followed such as Apple Inc (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN) and Tesla Inc (NASDAQ: TSLA) all trade in 2021 within the first five months, producing a negative return on a hypothetical $ 1,000 investment in one of these big names.
Related Link: If You Invested $ 100 When Elon Musk First Tweeted About Dogecoin, Here’s How Much You Would Have Now
Dogecoin and Bitcoin: One of the most talked about cryptocurrencies in 2021 was Dogecoin. The cryptocurrency has performed very well for those who entered 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 January 1 have done quite well.
A $ 1,000 investment in Dogecoin could have purchased 213,584 coins on January 1. This investment was worth $ 70,482.72 at the end of May.
Compare the $ 1,000 investment in Dogecoin to the same investment in Bitcoin that was worth $ 1,287.24 at the end of May.
Benzinga’s point of view: The world of investing has been a roller coaster ride in 2021, driven by several top equity ideas from popular investment platforms for retail traders such as WallStreetBets.
There can be no assurance that these stocks will continue to outperform the market.