Meme-stock ETF Shutting Down Amidst Craze

The Roundhill MEME ETF, launched to capitalize on the meme-stock craze, is closing next month due to dwindling assets under management and poor performance. The fund, which tracks an equal-weighted index of 25 U.S.-listed stocks selected based on social-media buzz and short interest, has fallen by 58% since its launch in December 2021. Despite a recent 21.8% rise in November, the fund failed to gain traction, leading to its closure. Investors will receive cash from the liquidation on December 14. This is another high-profile closure of a buzzy ETF this year, following the closure of an ETF tracking Jim Cramer's stock picks in September.