3 Meme Stocks to Buy for Their Moonshot Potential
Based on the latest headlines, figuring out which meme stocks to buy may be the last thing on your mind. Between a continued move to “risk-off,” due to economic uncertainties, along with tragic news related to high-profile meme stock Bed Bath Beyond (NASDAQ: BBBY ), meme mania continues to unravel. However, while we aren’t likely to see a repeat of the 2021 frenzy anytime soon, that’s not to say that stocks in the meme category are a no-go right now (as long as you focus more on fundamentals and less on Reddit chatter). Top meme plays like AMC Entertainment (NYSE: AMC ) and GameStop (NYSE: GME ) continue to trade at valuations well above their underlying values. As the speculative bubble that sent them “to the moon” continues to deflate, such names are at risk of further declines. Yet in the case of some of the secondary meme plays, following their big drops from their respective all-time highs, one can argue that investors can buy into them today, at a very favorable entry point. For instance, with these three meme stocks to buy.
3 Meme Stocks to Buy for Their Moonshot Potential
Based on the latest headlines, figuring out which meme stocks to buy may be the last thing on your mind. Between a continued move to “risk-off,” due to economic uncertainties, along with tragic news related to high-profile meme stock Bed Bath Beyond (NASDAQ: BBBY ), meme mania continues to unravel. However, while we aren’t likely to see a repeat of the 2021 frenzy anytime soon, that’s not to say that stocks in the meme category are a no-go right now (as long as you focus more on fundamentals and less on Reddit chatter). Top meme plays like AMC Entertainment (NYSE: AMC ) and GameStop (NYSE: GME ) continue to trade at valuations well above their underlying values. As the speculative bubble that sent them “to the moon” continues to deflate, such names are at risk of further declines. Yet in the case of some of the secondary meme plays, following their big drops from their respective all-time highs, one can argue that investors can buy into them today, at a very favorable entry point. For instance, with these three meme stocks to buy.