While meme stocks may be among the more controversial trends in the stock market today, the movement continues to hold strong. As such, more risk-tolerant investors could be looking towards this group of stocks now. Should this be the case, there is a growing selection of meme stocks to choose from in the current market. Sure, some would argue that shares in the meme stock trade are fueled mostly by hype. However, companies behind these stocks continue to make strategic moves in the stock market now.
For example, we could take a look at Bed Bath & Beyond (NASDAQ: BBBY). Just yesterday, the company unveiled its latest line of “contemporary home décor”, Studio 3B. The likes of which include bedding, bath, and accent furniture among BBBY’s usual offerings. With the product line going live both digitally and physically, the company appears ready for the upcoming holiday season. Likewise, Beyond Meat (NASDAQ: BYND) is also launching a new product today. Through a collaboration with Real Good Foods, Beyond Meat is introducing the “Grain-Free, Nutritious Pizza with Plant-Based Sausage”. The product is now available at Kroger (NYSE: KR) locations nationwide. Should all this have you keen on meme stocks now, here are four to consider in the market today.Top Meme Stocks To Buy [Or Sell] In October 2021
- BlackBerry Ltd. (NYSE: BB)
- GameStop Corporation (NYSE: GME)
- Tesla Inc. (NASDAQ: TSLA)
- AMC Entertainment Holdings Inc. (NYSE: AMC)
BlackBerry is a cybersecurity company that specializes in intelligent security software and services for enterprises and governments around the world. Impressively, the company secures more than 500 million endpoints including over 195 million vehicles. The Ontario, Canada-based company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety, and data privacy solutions. BB stock currently trades at $9.52 as of Tuesday’s closing bell and has more than doubled in valuation in the past year itself.
Today, the company announced an expansion of its collaborative work with Visteon Corporation (NASDAQ: VC) to accelerate the deployment of its digital cockpit solutions for automakers and suppliers around the world. Visteon is a tech leader in automotive electronics. “As an automotive electronics technology leader, Visteon’s hardware and software solutions support the industry trends of intelligent digital cockpits and the connected car,” said Bob Vallance, Visteon senior vice president, customer business groups and marketing. “Our collaboration with BlackBerry QNX reflects our shared passion for innovation that helps our automotive customers stay ahead of the curve with future-proof cybersecurity solutions.” With that being said, is BB stock worth adding to your portfolio right now?Source: TD Ameritrade TOS GameStop Corporation
Following that, we have GameStop Corporation, a video game, and consumer electronics retailer. It operates over 4,500 stores all over the world under the GameStop and EB Games brands among others. In addition to retail stores, the company owns and publishes Game Informer, a video game magazine. GME stock closed Tuesday’s trading session at $172.18 a piece and is up by over 1,700% in the past year.
Last month, it reported its second-quarter financials. Firstly, the company generated net sales of $1.183 billion, a 25% increase year-over-year. It also ended the quarter with $1.78 billion in cash and restricted cash. Secondly, it continued to invest in long-term growth initiatives that include expanding the company’s product catalog, enhancing its network capabilities and technology. It also entered into a new 530,000 square-foot fulfillment center in Nevada, positioning its fulfillment network to span both coasts of the continental U.S. Given the strong financials, will you consider investing in GME stock?Source: TD Ameritrade TOS Tesla Inc.
Tesla is an electric vehicle (EV) and clean energy company based in California. The company designs and manufactures its EVs, battery energy storage from home to grid-scale, solar panels, and solar roof tiles. The company’s subsidiary, Tesla Energy, is one of the largest global suppliers of battery energy storage systems in the world, with 3 gigawatt-hours installed in 2020. TSLA stock currently trades at $780.59 to close out Tuesday’s trading day.
On October 2, 2021, the company announced that it had produced approximately 238,000 vehicles and delivered over 240,000 vehicles during its third quarter. Last month, famed investor Cathie Wood said she’s very bullish on Tesla. The founder and CEO of Ark Invest said that her base case on Tesla is $3,000 a share. She also said that her estimate for Tesla’s success has gone up and the main reason for that is their market share. She added that new EVs from the more established automakers like Ford (NYSE: F) and General Motors (NYSE: GM) only further validates Tesla’s strategy. For these reasons, should investors rally behind TSLA stock?Source: TD Ameritrade TOS AMC Entertainment Holdings Inc.
Another name to consider among meme stocks now would be AMC Entertainment Holdings. For the most part, investors could be looking at AMC stock now given its involvement in the recovering cinema industry. If anything, AMC would be a go-to as it is the largest movie theater operator globally. To date, the company now operates via 950 theatres and 10,500 screens worldwide. With the return of movies to the silver screen, AMC has and continues to see a surge in customers. Also, with AMC stock currently trading at $37.06 as of Tuesday’s closing bell, could it be worth investing in now?
Well, for one thing, the company’s shares are now up by over 250% in the past six months. Even so, AMC appears to be kicking into high gear on the operational front now. To begin with, the company saw admission figures skyrocket past 2019 levels after airing the latest Marvel movie Shang Chi and the Legend of the Ten Rings last month.
Subsequently, AMC is keeping up this momentum with blockbuster movies such as Venom: Let There Be Carnage and James Bond: No Time To Die. Both of these movies help AMC set new post-reopening records for weekend attendance, admission revenues, and concession sales. For a sense of scale, AMC hosted approximately 3.9 million moviegoers over the past weekend. By and large, the company seems to be firing on all cylinders now. As such, could AMC stock be a top meme stock for you now?Source: TD Ameritrade TOS