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Gen Z investors shift focus from ‘meme-stocks’ to the ‘metaverse,’ report shows -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Visitors are pictured in front of an immersive art installation titled “Machine Hallucinations — Space: Metaverse” by media artist Refik Anadol, which will be converted into NFT and auctioned online at Sotheby’s, at the Digital Art Fair, in

John McCrank

NEW YORK, Reuters – Young investors have become more comfortable with “meme stock” after a year. GameStop Corp (NYSE): Trading frenzy. Gen Z is shifting his attention towards companies that deal in electric vehicles or the “metaverse,” according Friday’s report.

According to Apex Financial Solutions’ quarterly investor outlook (NASDAQ:) Inc), Tesla was the most popular stock held by the Gen Z group – individuals born after 1996 – during the fourth quarter. Apex also provides clearing and custody services for WeBull brokers such as SoFi, Stash and WeBull. Goldman Sachs Group (NYSE:)’s Marcus.

AMC Entertainment (NYSE 🙂 fell from No. The No. 1 ranking in the Top 100 Stocks Ranking was dropped to No. 3 According to the report which analysed more than 1,000,000 Gen Z accounts that Apex’s clearing arm had.

GameStop, which was bought by retail investors in an attempt to punish short-sellers, fell five places to No. 11 according to the report. Meme stocks that received less attention from the mainstream fell further, and Wish’s owner ContextLogic dropped 35 spots to No. 56, and Ocugen, a biopharmaceutical firm (NASDAQ:) Inc dropped 41 spots to No. 91.

Rivian Automotive Inc., an electric vehicle startup, went public on November 21st. 44 while NIO, a Chinese electric vehicle manufacturer, held the No. 8, while NIO, a Chinese EV maker, held the No. 19.

The shares of Facebook’s parent company Meta Platforms Inc rose just a few notches to the No. Roblox rose 36 positions to the No. 36.

Apex Chief Executive Officer Bill Capuzzi stated in an interview that there is a lot of interest in the metaverse. “We’ll see NFT companies move into the top 100 as more NFT companies are made public.”

The metaverse refers generally to shared virtual environments people have access to via the internet. They often make use of virtual reality (or augmented reality).

The popularity of payment companies was also high among young investors. Paypal Inc jumped 9 spots to No.1 in the third quarter. 19 while Block (formerly known as Square) remained steady at No. 25.

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