The 3 Most Popular Meme Stocks to Sell While You Can
The popular meme stocks also can be the most fraught. For example, a series of actions taken by billionaire investor Ryan Cohen last week contributed to the collapse of most popular meme stocks over the last few trading days. Cohen’s company, RC Ventures , disclosed on Monday, Aug. 16 that “it had purchased call options on 1.67 million shares of Bed, Bath Beyond (NASDAQ: BBBY ),” driving up the stock’s value. Then, just three days later, the firm disclosed that it had sold all of its bullish positions in BBBY stock. In the wake of Cohen’s action, the subsequent tanking of BBBY stock, and the woes being experienced by AMC (NYSE: AMC ), the mini meme-stock rally from late July ended. Following those events, I expect the vast majority of meme stocks to meaningfully underperform the stock market. As a result, I urge investors to sell most meme stocks at this point. With that said, here are my recommendations on Reddit’s three most popular meme stocks. BBBY Bed, Bath Beyond $10.36 AMC AMC $9.58 GME GameStop $32.50 Bed, Bath Beyond (BBBY) Source: Shutterstock Investors should sell BBBY stock.
The 3 Most Popular Meme Stocks to Sell While You Can
The popular meme stocks also can be the most fraught. For example, a series of actions taken by billionaire investor Ryan Cohen last week contributed to the collapse of most popular meme stocks over the last few trading days. Cohen’s company, RC Ventures , disclosed on Monday, Aug. 16 that “it had purchased call options on 1.67 million shares of Bed, Bath Beyond (NASDAQ: BBBY ),” driving up the stock’s value. Then, just three days later, the firm disclosed that it had sold all of its bullish positions in BBBY stock. In the wake of Cohen’s action, the subsequent tanking of BBBY stock, and the woes being experienced by AMC (NYSE: AMC ), the mini meme-stock rally from late July ended. Following those events, I expect the vast majority of meme stocks to meaningfully underperform the stock market. As a result, I urge investors to sell most meme stocks at this point. With that said, here are my recommendations on Reddit’s three most popular meme stocks. BBBY Bed, Bath Beyond $10.36 AMC AMC $9.58 GME GameStop $32.50 Bed, Bath Beyond (BBBY) Source: Shutterstock Investors should sell BBBY stock.