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AMC Entertainment vs. Nokia: Which Meme Stock is a Better Buy?

Stock MarketsJun 14, 2021 09:30AM ET
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© Reuters. AMC Entertainment vs. Nokia: Which Meme Stock is a Better Buy?

As the meme stock craze roars back after a temporary lull, Reddit favorites AMC Entertainment (NYSE:AMC) and Nokia (NYSE:NOK) are making big ripples in the stock market. Thanks to the Reddit-fueled hype and the ease of stock trading, these two names have gained significantly. But while their rally is reminiscent of GameStops’ massive gains in late January, these two stocks are expected to be extremely volatile. Keeping this in mind, let’s find out which of these stocks is a better buy now.AMC Entertainment Holdings, Inc. (AMC) and Nokia Corporation (NOK) have been riding the meme stock wave. Along with stocks such as BlackBerry Limited (NYSE:BB), GameStop Corporation (NYSE:GME) and others, these two meme stocks have witnessed double-digit price increases over the past few weeks. While the frenzy began earlier this year with GME’s more than 1,600% gains, AMC has become the latest darling of retail traders, with its shares soaring more than 390% over the past month.

However, meme stocks, which have gone viral on social media irrespective of their financials, are extremely volatile. As such, the huge price gains could be short lived. In fact, according to Matt Maley, chief market strategist at Miller Taba, there could be an ugly ending to the AMC mania. NOK, in contrast, has been witnessing increasing positive cash flow and rising demand for its next-generation connectivity. Since the company is well on track to achieve profitable growth, the momentum in the stock might continue.

While AMC has gained 855.5% year-to-date, NOK has returned 32.1% over the same period. In terms of their past month’s performance, AMC is the clear winner with 391.5% gains versus NOK’s 10.1% returns. But which of these stocks is a better pick now? Let’s find out.

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AMC Entertainment vs. Nokia: Which Meme Stock is a Better Buy?
 

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Comments (5)
Waldemar Gau
Waldemar Gau Jun 15, 2021 2:05PM ET
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but NOK stay on earth and no fly to the moon
Steven Loftin
Steven Loftin Jun 14, 2021 10:46AM ET
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NOK
Star Lord
Star Lord Jun 14, 2021 10:19AM ET
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This article is 100% fluff
ritchie lee
ritchie lee Jun 14, 2021 9:44AM ET
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nokia potential + giv div + still under valued
Eduardo Corona
Eduardo Corona Jun 14, 2021 9:42AM ET
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Nokia is not a meme stock
 
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