![]() ![]() Unlike AMC, ASTS hasn’t seen so many bad headlines this year. Even with its occasional surges, Ast SpaceMobile is still down 50% for the year. But since then, all the stock has done is fall, indicating that it can’t stay elevated on its own. As the earnings report pushed ASTS stock up, meme stock momentum helped push it to a high for the year. But Ast SpaceMobile (NASDAQ: ASTS) has been in a race to the bottom for months, failing to gain any real momentum since its second-quarter earnings report. Companies like Virgin Galactic (NYSE: SPCE) have too much potential to be placed on a list of meme stocks to sell. It’s only a matter of time before both stocks go under.Įven in the space race, not all stocks are winners. AMC is an outdated company that can’t innovate as its business model is stuck in a previous era. There have been rumors of a reverse stock split but even that won’t be enough to make a difference. APE fell below $1 per share recently and there’s nothing to indicate that it can reach it again. Unfortunately, all APE has done is drag AMC down further. AMC Preferred Equity Units (NYSE: APE) launched in August 2022, they were created to help the company alleviate some of its debt. Things have been even worse for AMC’s preferred share dividend. AMC has already given them more than enough reason to run the other way. ![]() While they may not come to pass, most investors likely won’t stick around to find out. Now the company is contending with rumors of possible bankruptcy. From lagging box office numbers to having its stock price allegedly manipulated by Sam Bankman-Fried, AMC has been fighting an uphill battle that it has proven it can’t win. AMC isn’t the worst-performing meme stock on this list but it may have seen the most negative headlines. It’s been a highly turbulent year for the struggling movie theater chain that can’t catch a break. Let’s take a look at the best meme stocks to sell to avoid further losses.īoth stocks associated with AMC Entertainment (NYSE: AMC) should be on the short list of meme stocks to sell this year. This isn’t likely to change, even as markets begin to rebound in 2023. Uncertainty is still high and investors clearly opted against the risk that meme stocks pose. This isn’t surprising when we consider the macroeconomic trends that have defined the year. It seems that the r/WallStreetBets army has been unable to rally their favorite stocks enough to turn a profit for the year. The outlet also notes that according to JPMorgan (NYSE: JPM), their portfolios could be down as much as 38%. Morning Brew reports that retail traders have suffered 30% losses on average throughout the year. “By any traditional analytical measures, meme stock names such as GameStop, Bed Bath & Beyond, and Blackberry are still wildly overvalued at current levels despite a rough 2022.” For that reason, investors should be focused on identifying the most important meme stocks to sell before they go from bad to worse. ![]() Most meme stocks are spurned by Wall Street because they are deemed unstable. As investors have been reminded consistently, pure short squeeze hype on its own does not make for a profitable investment. But while these companies may see unprecedented gains, they often fall back down just as quickly. Stocks cast aside by Wall Street like GME have been catapulted to overnight success by the r/WallStreetBets crowd. Little-known companies have risen out of nowhere only to fall again just as quickly. It’s been a long, hard search with no clear end. Since the Gamestop (NYSE: GME) short squeeze shook the investing world in 2021, investors have been focused on finding the next meme stock. ![]()
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