I have expressed skepticism about the short squeeze strategy of these so-called "meme" stocks. But just to show that I can be open-minded, I thought I would share this week's edition of U.S. News Invested whereas the editors picks of the best of these meme stocks are layed out. Hope everyone is enjoying the weekend, or at least Sunday when supposedly this wretched humidity will finally begin to fade.
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Invested
Advice, rankings and stock market news for investors.
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Happy Friday,
investors! Many of Reddit's
favorite stocks from GameStop to Clover Health sold off yesterday.
TODAY'S FEATURED STOCK
STORY
8 Short Squeeze
Stocks That Could Take Off
In recent months,
groups of social media stock traders have orchestrated targeted buying
campaigns in some of the market's most heavily shorted stocks in an
attempt to trigger short squeezes. A short squeeze is a large, short-term spike in a stock's share price
that occurs when a sizable group of short sellers is forced to close out
its positions all at once by buying shares of stock.
S3 Partners just launched a metric that scores stocks by their short
squeeze potential. These eight stocks received scores of 10 out of 10,
according to S3 Partners analyst Ihor Dusaniwsky:
1. AMC Entertainment Holdings (ticker: AMC). AMC
reported a net loss of $4.59 billion last year and entered 2020 with $5.4
billion in debt. However, social media traders got the hashtag #saveAMC
trending, and the stock price soared.
2. GameStop Corp. (GME). It
was the first so-called "meme" stock of 2021 to capture the
attention of hedge funds, the media and even Congress. A massive short
squeeze back in January sent the stock soaring from less than $18 to $483
in a matter of weeks.
Click here to continue.
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Eight short squeeze stocks that could take off:
- AMC Entertainment Holdings (AMC)
- GameStop Corp. (GME)
- Beyond Meat (BYND)
- Skillz (SKLZ)
- Virgin Galactic Holdings (SPCE)
- Upstart Holdings (UPST)
- Bed Bath & Beyond (BBBY)
- Nikola Corp. (NKLA)
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