In this article, we discuss the 5 meme stocks that more than doubled in 2021. If you want to read our detailed analysis of these stocks, go directly to the 10 Meme Stocks that More than Doubled in 2021.
5. Lucid Group, Inc. (NASDAQ:LCID)
Number of Hedge Fund Holders: 18
Year-To-Date Gain: 416%
Lucid Group, Inc. (NASDAQ: LCID) is a technology and automotive firm. Even though analysts have recommended other automakers to investors for the EV wave, the Reddit crowd seems to think that Lucid is the better option in this regard.
Citi analyst Itay Michaeli has a Buy rating on Lucid Group, Inc. (NASDAQ:LCID) stock with a price target of $57. In an investor note, the analyst said that the EV tech credentials of the firm were generating strong brand momentum.
At the end of the third quarter of 2021, 18 hedge funds in the database of Insider Monkey held stakes worth $432 million in Lucid Group, Inc. (NASDAQ:LCID).