3 Meme Stocks Due to Run Out of Steam Soon | Markets

It’s safe to say that you just can’t keep meme stocks out of the equation. Especially after the recent meme stock rally, triggered by Keith Gill, aka “Roaring Kitty,” to social media, had the market buzzing again. Consequently, the OG meme stocks in GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC) sprung back into action again. Yet within days, the rally lost its bite, leading investors to consider which overvalued meme stocks to sell immediately.

The joy of this month’s meme stock rally was remarkably short-lived compared to the original meme stock rally. GME investors, for instance, witnessed a massive erosion of value within a few days, losing north of $13 billion. Thus, the tremendous burst of equally swift decline is indicative of investing in stocks without a solid financial foundation. Here are three overvalued meme stocks to avoid:

GameStop (GME)

Source: 1take1shot / Shutterstock.com

Investors in video game retailer GameStop finally snagged a win during the meme stock surge. However, as discussed earlier, the rally fizzled out quickly, with its investors losing a lot of money. Additionally, we saw GME stock rise 20% following the completion of a $933.4 million at-the-market offering.

While these developments might initially seem like a win, GME investors should recognize the fleeting nature of these surges. The core issues…

Source investorplace.com

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