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Is Trump Media & Technology Group Wall Street’s Newest Meme Stock?

The market has a new meme stock contender after Trump Media & Technology Group rocketed "to the moon" in its Nasdaq debut. The term "meme stock" is loosely defined and often used to describe trendy stocks that are popular with retail investors. Steve Sosnick, Chief Strategist at Interactive Brokers, listed his three "hallmarks of a meme stock" during an interview with Yahoo! Finance Wednesday.

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What’s Going On With Trump Media & Technology Group Stock?

Trump Media & Technology Group began trading on the Nasdaq Tuesday after completing its long-awaited business combination with Digital World Acquisition Corp. The stock jumped 16% on its first day of trading and ended the session with a market value of $6.58 billion. Financial commentator Herb Greenberg shared his doubts about the stock's price and company's valuation on CNBC's "Last Call" Tuesday.

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