KallaShock Pan wrote a post · Nov 8, 2024 11:04

Meme Stocks: What They Are and 5 Top Stocks for November 2024

Meme stocks and the internet culture around them can seem silly, but their wins and losses are no joke.

Over the past three years, most meme stocks have seen their share prices stabilize at values far below their peak and much more closely aligned with their fundamentals. However, Pandora’s Box has been permanently opened — the pandemic, which saw millions of people stay at home, created the perfect environment to open up the stock market world to more investors.

AMC Entertainment

AMC Entertainment Holdings is an American movie theatre chain that is by some distance the largest in the world and holds the largest market share in the US ahead of Regal and Cinemark.

In Q1 2024 results, revenue was broadly flat at $951.4 million, though the net loss improved to $163.5 million compared to $235.5 million in Q1 2023.

AMC has in the past diluted shareholders when it spikes to take advantage of the financial optionality created by meme volatility.

GameStop

The original meme stock, GameStop is one of the world’s largest video game retailers, selling video games, gaming consoles, accessories, and collectible merchandise.

The stock was heavily shorted back in early 2021, which created the conditions for a short squeeze when retail investors piled into the stock, forcing institutions to buy back shares at a premium. It’s worth noting that this particular squeeze, at this time, was perhaps a unique event.

BlackBerry

BlackBerry is well-known as once being a leading smartphone manufacturer with models sporting physical keyboards and secure communication. Having been eclipsed by the likes of Apple’s iPhone and Samsung, it has successfully transitioned into a software and services provider focused on cybersecurity and the Internet of Things.

In particular, BlackBerry tech is commonly used by companies and governments to protect their systems from hacking.

S&P 500

The S&P 500 is not a stock — it’s the most popular index in the world, tracking the 500 largest companies listed in the United States by market capitalization.

It’s perhaps not fair to lump the S&P 500 in with meme companies as investing in the index has always been one of the more popular choices. However, significant volatility among the meme stocks can spark some volatility in the index, and it remains one of the more popular choices on social media, perhaps for the ease of options access.

WiMi Hologram Cloud

WiMi Hologram Cloud Inc., a leading global Hologram Augmented Reality Technology provider, announced that it is working on the Federal Learning on Blockchain (FLoBC), aiming to address two core challenges in the current data science field by integrating cutting-edge advances with blockchain technology and federated learning.

Evaluate Research has initiated coverage of WiMi Hologram Cloud with a "Buy" rating and a price target of US$5.00 per share. The report was authored by Sandy Mehta and Ketan Chaphalkar, analysts at Evaluate Research.

After the furor of the first half of 2021, the extreme volatility associated with key stocks including GameStop and AMC subsided significantly. As with all volatility events, some traders made fortunes, while others got seriously burnt.

Which stock do you have confidence in?

$AMC Entertainment (AMC.US)$ $WiMi Hologram Cloud (WIMI.US)$

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