Solid State drive manufacturer Netlist (OTC:NLST) has been one of the best performing semiconductor stocks, with triple digit price gains over the past year, and more than 140% returns over the past month. However, given the current global chip shortage, will the stock be able to maintain this momentum in the near term? Read more to find out.High-performance solid-state drive (SSD) and modular memory subsystems manufacturer Netlist, Inc. (NLST) has been gaining momentum over the past year, despite the ongoing semiconductor shortage. The stock has gained 562.5% over the past year, and 724.3% year-to-date, outperforming its peers by a huge margin. The broader iShares Semiconductor ETF (SOXX) has gained 61.9% over the past year, and 18.6% year-to-date. Shares of NLST have gained 141.3% over the past month, significantly outperforming SOXX’s 2.9% returns.
NLST is a hot meme stock, with nearly 17,500 retail investors discussing the stock on investing community platform Stocktwits. There have been frequent conversations about NLST on Reddit forums as well. Retail investors expect NLST to receive a settlement from Google’s parent Alphabet, Inc. (NASDAQ:GOOGL) from patent dispute concerns. However, no concrete evidence pointing toward such settlement is available at the moment.
Here’s what could shape NLST’s performance in the near term: