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Forget GameStop, Buy These 3 Meme Stocks Instead

Stock MarketsOct 25, 2021 01:00PM ET
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© Reuters. Forget GameStop, Buy These 3 Meme Stocks Instead

As the hype surrounding the popular short-squeeze candidates fades, some new names are now dominating social media discussions. While the most popular meme stock GameStop (NYSE:GME) doesn’t look sufficiently fundamentally fit to attract investors’ attention, we think it could be worth betting on Apple (AAPL), Sirius XM (SIRI), and Goodrich Petroleum (NYSE:GDP), which are now being discussed heavily on the subreddit WallStreetBets. Read on.Popularity on social media platforms like Reddit and Twitter (NYSE:TWTR), high short interest, and retail trader-driven short squeezes characterize most meme stocks. And while the hype surrounding some famous names has begun to fade, some new names are now making quite a buzz on the subreddit WallStreetBets (WSB).

Although the most popular meme stock GameStop Corporation (GME) is up 801.3% year-to-date, the company’s unstable financials and bleak growth potential may lead to a price pullback in the near term. In its last reported quarter, GME’s operating loss came in at $58 million and its net loss amounted to $61.6 million. Furthermore, analysts expect its EPS to decline 20.9% in the next quarter. The stock has declined 10.7% in price over the past month.

Therefore, we think fundamentally sound stocks Apple Inc. (NASDAQ:AAPL), Sirius XM Holdings Inc. (NASDAQ:SIRI), and Goodrich Petroleum Corporation (GDP), which are being discussed heavily on subreddit WSB, could be better choices than GME for meme investors.

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Forget GameStop, Buy These 3 Meme Stocks Instead
 

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Rai Seth
Rai Seth Oct 25, 2021 1:35PM ET
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Forget memestocks! Invest in exclusively GME, since it's not a "meme". Fundamentally, it's the single best investment you can possibly make - besides the squeeze not being squoze yet. Stop being a 🤡, buy, hodl, drs.
Rai Seth
Rai Seth Oct 25, 2021 1:32PM ET
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Forget memestocks! Buy only GME, since it's not a meme stock but the single best investment you could possibly make. :)
 
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