Former President Donald Trump’s social media company, Trump Media and Technology Group, recently went public via a SPAC. With losses of $49 million compared to revenue of just $3.4 million, the company’s balance sheet isn’t the type investors traditionally get excited about.

But in meme-stock land, balance sheets are for the birds. Add in the fact Trump has some of the most rabid supporters in the world, and you can see where this is going.

Shares of Trump Media skyrocketed during its first few days of trading. Its market cap is now just shy of $8.4 billion. Even investing legend Bill Gross is getting in on the action.

(Trump Media doesn’t technically qualify as a meme stock under Sosnick’s criteria due to the amount of low short interest. But as BI’s Peter Kafka explains, there’s a technical reason for that.)

Maintaining long-term support for a meme stock remains a tough nut to crack. The share price of AMC Entertainment, a retail trader favorite, has fallen below pre-meme stock levels. Bed Bath & Beyond, another meme stock, was liquidated last year.

But it’s never really been about the long game for meme-stock traders. And with the S&P 500 ripping this year up more than 10%, traders will continue to feel emboldened to make big bets.