Wall Street analysts foresee a 40% drop in the average meme stock, led by an AMC wipeout

CNBC2021-06-03

Meme stocks are popping this week, but Wall Street analysts who study the fundamentals believe big declines are looming. Speculative trading from retail investors, many active on Reddit’s ...

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Comments

Covan67
2021-06-06
Covan67
Can keep this stock for t long run?
Merc8123
2021-06-04
Merc8123
Wall Street short sell strategy. They need to scare the general public to sell and bring the stock price down. What do you think?
Jackytan
2021-06-04
Jackytan
Here comes the pain
mummumtumtum
2021-06-04
mummumtumtum
AMC bubble popping? Without fundamental performance, don't see how the rise can be sustained.
- Mr小白:
  run or die [开心]
NareshwG
2021-06-04
NareshwG
This is crazy.. Are they punishing those who play this game?
JCai
2021-06-04
JCai
Like and comment pls
- kenong62:
  done

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The stocks include AMC Entertainment,GameStop,BlackBerry and Bed Bath & Beyond.\nAMC shares closed at an all-time high of $62.55 on Wednesday, but the average 12-month target price of analysts is 91.8% lower, according to FactSet.\n“AMC has survived the pandemic but comes out the other end massively diluted and still over-levered,” Alan Gould of Loop Capital Markets said in a note Monday.\n“Fundamentally, the exclusive theatrical window has shortened, fewer movies are being released theatrically, industry-wide fewer theaters have closed than anticipated, and streaming has become more pervasive,” Gould said. “Eventually the valuation will reflect the fundamentals.”\nCNBC Pro looked at how much lower the Street predicts prices of nine meme stocks will drop in the next 12 months. Take a look:\nMEME STOCKS\n\n\n\nTICKER\nNAME\nMARKET VALUE (MILLION)\nDROP TO MEAN PRICE TARGET\nBUY RATING\nSHARES SOLD SHORT\n\n\n\n\nAMC\nAMC Entertainment Holdings, Inc. Class A\n31,323.8\n-91.8%\n0.0%\n21.1%\n\n\nBBBY\nBed Bath & Beyond Inc.\n4,712.1\n-40.2%\n10.0%\n31.8%\n\n\nBYND\nBeyond Meat, Inc.\n9,443.1\n-23.7%\n14.3%\n25.2%\n\n\nBB\nBlackBerry Limited\n8,567.3\n-35.3%\n11.1%\nN/A\n\n\nEXPR\nExpress, Inc.\n431.3\n-37.3%\n0.0%\n7.7%\n\n\nGME\nGameStop Corp. Class A\n19,974.6\n-82.9%\n0.0%\n21.0%\n\n\nPLTR\nPalantir Technologies Inc. Class A\n45,886.5\n-10.0%\n22.2%\n6.1%\n\n\nSNDL\nSundial Growers Inc.\n2,101.8\n-30.8%\n0.0%\n15.8%\n\n\nTLRY\nTilray, Inc.\n8,482.4\n-4.1%\n35.7%\n22.1%\n\n\n\nAnalysts believe AMC will lead the meme stock drop with a 91.8% wipeout in the next 12 months. The estimated declines are based on Wednesday closing prices.\nEven the company itself warned investors of the extreme risk associated with its stock. AMC said Thursday it plans to sell more than 11 million shares, sending the stock into a 30% nosedive in early trading.\n“We believe that the recent volatility and our current market prices reflect market and trading dynamics unrelated to our underlying business, or macro or industry fundamentals, and we do not know how long these dynamics will last,” AMC wrote in a Securities and Exchange Commission filing.\n“Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment,” the company added.\nExpress, another meme stock gaining popularity on Reddit, also announced a share sale on Thursday. The company said it may offer and sell up to 15 million shares through an at-the-market equity offering program. The stock plunged 20% in early trading Thursday.\nWall Street analysts on average expect the price of Express shares to fall 37.3% within 12 months.\nShares of GameStop, which made headlines earlier this year in a short squeeze fueled by retail traders, are expected to plummet 82.9%.\nLooking at all nine meme stocks together, Wall Street predicts an average drop of roughly 40% for these shares.\n“My biggest concern is what’s going on with the individual investor though. They’ve got to be able to understand when they use leverage what that really means,” Joe Moglia, former chairman and CEO of TD Ameritrade, told CNBC’s “Squawk Box” on Thursday.\n“Leverage on the way up is a great thing,” Moglia said. “Leverage on the way down will rip your arms off.”\nWhat’s striking is the magnitude of the decline that’s predicted by these company analysts, considering this group is rarely accused of being too bearish. Analysts have faced criticism in the past of being too bullish on companies they cover, keeping buy ratings and high price targets to stay in good graces.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":115074335,"gmtCreate":1622944591527,"gmtModify":1704193486602,"author":{"id":"3574925228684475","authorId":"3574925228684475","name":"Covan67","avatar":"https://static.tigerbbs.com/bfbd7f4c5a941d77774de1196b34df5e","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Can keep&nbsp;this stock for t long run?","listText":"Can keep&nbsp;this stock for t long run?","text":"Can keep this stock for t long run?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/115074335","repostId":1150102285,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116510973,"gmtCreate":1622810924492,"gmtModify":1704191611312,"author":{"id":"3567309024182924","authorId":"3567309024182924","name":"Merc8123","avatar":"https://static.tigerbbs.com/272ac8fc3161896715581d7053587a3f","vip":1,"crmLevel":8,"crmLevelSwitch":0},"htmlText":"Wall Street short sell strategy. They need to scare the general public to sell and bring the stock price down. What do you think?","listText":"Wall Street short sell strategy. They need to scare the general public to sell and bring the stock price down. What do you think?","text":"Wall Street short sell strategy. They need to scare the general public to sell and bring the stock price down. What do you think?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116510973","repostId":1150102285,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116144068,"gmtCreate":1622783304954,"gmtModify":1704191135630,"author":{"id":"3555065151273039","authorId":"3555065151273039","name":"Jackytan","avatar":"https://community-static.tradeup.com/news/6b0314202f797581d3e8716a67f721e6","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":6,"crmLevelSwitch":1},"htmlText":"Here comes the pain","listText":"Here comes the pain","text":"Here comes the pain","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116144068","repostId":1150102285,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116381616,"gmtCreate":1622774399535,"gmtModify":1704190935328,"author":{"id":"3581079319641993","authorId":"3581079319641993","name":"mummumtumtum","avatar":"https://static.tigerbbs.com/1314a5de0c397dde3e609fa1f0de4fba","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"AMC bubble popping? Without fundamental performance, don't see how the rise can be sustained.","listText":"AMC bubble popping? Without fundamental performance, don't see how the rise can be sustained.","text":"AMC bubble popping? Without fundamental performance, don't see how the rise can be sustained.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/116381616","repostId":1150102285,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4575418,"gmtCreate":1622782155284,"gmtModify":1663227933529,"authorId":3561677110311504,"author":{"id":3561677110311504,"authorId":3561677110311504,"name":"Mr小白","avatar":"https://static.tigerbbs.com/6254bbf8c65e8c668db8db59c22ae5d7","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116381616,"type":1,"supId":0,"prevId":0,"content":"run or die  [开心]","text":"run or die  [开心]","html":"run or die  [开心]"}],"langContent":"EN"},{"id":116955850,"gmtCreate":1622771192770,"gmtModify":1704190845123,"author":{"id":"3572945845916163","authorId":"3572945845916163","name":"NareshwG","avatar":"https://static.tigerbbs.com/0d6dc06165c1a0cc4f1a8169ea48573d","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"This is crazy.. Are they punishing those who play this game?&nbsp;","listText":"This is crazy.. Are they punishing those who play this game?&nbsp;","text":"This is crazy.. Are they punishing those who play this game?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116955850","repostId":1150102285,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116926580,"gmtCreate":1622770721040,"gmtModify":1704190828537,"author":{"id":"3574897713454581","authorId":"3574897713454581","name":"JCai","avatar":"https://static.tigerbbs.com/a4408059854d4abfa5d3e8513d447a16","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/116926580","repostId":1150102285,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4574128,"gmtCreate":1622776792911,"gmtModify":1663227932540,"authorId":3574928367638029,"author":{"id":3574928367638029,"authorId":3574928367638029,"name":"kenong62","avatar":"https://static.tigerbbs.com/37fd00bd8cea11b8aa1aed6d9ddd9413","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116926580,"type":1,"supId":0,"prevId":0,"content":"done","text":"done","html":"done"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":153,"commentSize":91,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1150102285"}