There might be a new meme stock on the block shares of Trump media DJT up 40% in the first day of trading

surging again today.

Our Deirdre Bosa taking a look at the new wave of meme stocks in today is Tech Check.

Morning, dear.

Good morning, that's right.

So this new class has arrived.

You don't know how long it's going to last,

but the most divorce from fundamentals has got to be by a long shot DJT.

Trump Media and Technology Group closed yesterday at a market cap of nearly $8 billion.

It's up another nearly 20% today. There's newly public Reddit as well up nearly 70% from its IPO price but volatile as mean stocks are down 12% today

But as a whole those two stocks really underscore market that is

increasingly driven by momentum and retail investors. Like the last meme

stock wave of 2021 though buyers beware

Reddit's price to sales multiple is now higher than that of other

more profitable social media names meta snap Pinterest

and at the same time it hasn't gotten so out of hand that it has

surpassed in video which I'm just showing here as a benchmark for a momentum stock

that is driven by fundamentals not calling it a meme stock by any means.

Now look at what happens when you add DJT to the mix.

This is a very unique meme stock.

So this next screen, you're seeing that it has just 3.4 million dollars in sales for the first nine months of the year giving it a price to sales multiple of more than 2,000 times.

So that obviously blows the others out of the water even in video and you can barely even see them in this chart.

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