3 Meme Stocks That Could Fade Away in 2024

InvestorPlace2023-12-19

These are the meme stocks to avoid, as they will likely remain in a downtrend.Lucid Group (LCID): Production and deliveries are disappointing and cash burn will sustain for the next few years.Novavax ...

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Ivanleejz
2023-12-20
Ivanleejz
Thank you 🙏🏼
nywles
2023-12-20
nywles
Thanks
nywles
2023-12-19
nywles
Thanks

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The speculative activity peaked, and short-squeeze rallies delivered multi-bagger returns in weeks. The euphoria was, however, short-lived. Investor interest in meme stocks remains high, and there continue to be opportunities to make quick money in the blink of an eye.However, there is one major difference between now and 2021. Not every meme stock that investors touch will turn gold. Investors need to exercise caution and remain selective even for speculative stocks.In my view, some meme stocks will likely fade away. High short interest in these stocks would not necessarily imply a short-squeeze rally. These are the meme stocks, and this column discusses three names that might continue to erode wealth in 2024.Let’s discuss the reasons to be bearish on these meme stocks.Lucid Group (LCID)From being touted as the Tesla (NASDAQ: TSLA) competitor, the fall for Lucid Group (NASDAQ: LCID) has been significant. Factors contributing to the decline include intense industry competition, slow execution of plans, and significant cash burn. Back in November 2021, the stock was trading above $55. Two years later, it’s a penny stock with a short interest of nearly 28%.Even the weakest names might have a speculative rally in a euphoric bull market. However, we are far from a full-fledged bull market. Market participants will continue to ignore LCID stock even at current levels. I must add that there is no major positive catalyst on the horizon.It’s true that Lucid is well financed through 2024. However, I expect cash burn to sustain for the next few years. Further dilution of equity is on the cards. Also, Lucid Gravity is unlikely to save the Company, given the response of earlier models and the sluggish production. LCID stock is, therefore, among the top meme stocks to avoid.Novavax (NVAX)In the last 12 months, Novavax (NASDAQ: NVAX) stock has plunged by 67%. However, I don’t see any hope, and a short interest of 40% indicates a bearish outlook for the stock. I would not bet on a short-squeeze rally because fundamental developments remain negative.Novavax was in the limelight during the pandemic. The Company was in the vaccine race, and NVAX stock skyrocketed. However, Novavax was a laggard, and even with vaccine authorizations, the Company did not have an addressable market.Besides the vaccine against COVID-19, the Company is working on clinical trials for seasonal influenza. However, even with COVID-19 and malaria vaccine authorization, the stock has remained depressed. It’s a clear indication of the weak market potential these vaccines hold.I would, therefore, steer clear of NVAX stock with no major fundamental triggers. Cash burn is also likely to be sustained as Novavax invests in building a deeper pipeline.ChargePoint (CHPT)ChargePoint (NYSE: CHPT) stock has been another wealth destroyer with a downside of almost 70% for year-to-date. I don’t see any hope for CHPT stock in 2024, and it’s among the top meme stocks to avoid.The first reason to be bearish is that the EV charging industry is getting intensely competitive. I prefer to look at Blink Charging (NASDAQ: BLNK), which seems like a better option among peers. Further, if we look at the bigger names, Tesla’s EV charging business will create value in the coming years.An important point to note is that ChargePoint reported revenue of $110 million for Q3 2024. Revenue declined on a year-on-year basis by 12%. This comes when peers have reported stellar revenue growth, even with cash burn.ChargePoint reported an operating loss of $154 million on the cash burn front. Losses widened on a year-on-year basis. Losses have widened even for the first nine months of fiscal year 2024. Financial metrics are, therefore, poor, and ChargePoint would need to dilute equity next year. This can potentially trigger another round of sharp selling.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":253939517341928,"gmtCreate":1703033751738,"gmtModify":1703036521002,"author":{"id":"4133658082280282","authorId":"4133658082280282","authorIdStr":"4133658082280282","name":"Ivanleejz","avatar":"https://community-static.tradeup.com/news/00c3c6ae6c0c6f9c4cfbd70da909a3c7","vip":1,"crmLevel":1,"crmLevelSwitch":1,"idStr":"4133658082280282"},"htmlText":"Thank you 🙏🏼&nbsp;","listText":"Thank you 🙏🏼&nbsp;","text":"Thank you 🙏🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/253939517341928","repostId":2392134953,"repostType":2,"repost":{"id":"2392134953","pubTimestamp":1702997974,"share":"https://ttm.financial/m/news/2392134953?lang=&edition=fundamental","pubTime":"2023-12-19 22:59","market":"us","language":"en","title":"3 Meme Stocks That Could Fade Away in 2024","url":"https://stock-news.laohu8.com/highlight/detail?id=2392134953","media":"InvestorPlace","summary":"These are the meme stocks to avoid or sell as they have extremely weak fundamentals and are unlikely to recover from a financial perspective.","content":"<html><head></head><body><ul style=\"\"><li><p>These are the meme stocks to avoid, as they will likely remain in a downtrend.</p></li><li><p><strong>Lucid Group</strong> (<strong><u>LCID</u></strong>): Production and deliveries are disappointing and cash burn will sustain for the next few years.</p></li><li><p><strong>Novavax</strong> (<strong><u>NVAX</u></strong>): A laggard in the COVID-19 vaccine race and building a new pipeline would imply cash burn and no revenue visibility in the next few years.</p></li><li><p><strong>ChargePoint</strong> (<strong><u>CHPT</u></strong>): Cash burn and revenue deceleration in an intensely competitive EV charging industry.</p></li></ul><p>During the meme stocks rally of 2021, it seemed that all potential meme stocks skyrocketed. The speculative activity peaked, and short-squeeze rallies delivered multi-bagger returns in weeks. The euphoria was, however, short-lived. Investor interest in meme stocks remains high, and there continue to be opportunities to make quick money in the blink of an eye.</p><p>However, there is one major difference between now and 2021. Not every meme stock that investors touch will turn gold. Investors need to exercise caution and remain selective even for speculative stocks.</p><p>In my view, some meme stocks will likely fade away. High short interest in these stocks would not necessarily imply a short-squeeze rally. These are the meme stocks, and this column discusses three names that might continue to erode wealth in 2024.</p><p>Let’s discuss the reasons to be bearish on these meme stocks.</p><h2 id=\"id_2377313118\">Lucid Group (LCID)</h2><p>From being touted as the <strong>Tesla</strong> (NASDAQ: <strong><u>TSLA</u></strong>) competitor, the fall for <strong>Lucid Group</strong> (NASDAQ: <strong><u>LCID</u></strong>) has been significant. Factors contributing to the decline include intense industry competition, slow execution of plans, and significant cash burn. Back in November 2021, the stock was trading above $55. Two years later, it’s a penny stock with a short interest of nearly 28%.</p><p>Even the weakest names might have a speculative rally in a euphoric bull market. However, we are far from a full-fledged bull market. Market participants will continue to ignore LCID stock even at current levels. I must add that there is no major positive catalyst on the horizon.</p><p>It’s true that Lucid is well financed through 2024. However, I expect cash burn to sustain for the next few years. Further dilution of equity is on the cards. Also, Lucid Gravity is unlikely to save the Company, given the response of earlier models and the sluggish production. LCID stock is, therefore, among the top meme stocks to avoid.</p><h2 id=\"id_3213159323\">Novavax (NVAX)</h2><p>In the last 12 months, <strong>Novavax</strong> (NASDAQ: <strong><u>NVAX</u></strong>) stock has plunged by 67%. However, I don’t see any hope, and a short interest of 40% indicates a bearish outlook for the stock. I would not bet on a short-squeeze rally because fundamental developments remain negative.</p><p>Novavax was in the limelight during the pandemic. The Company was in the vaccine race, and NVAX stock skyrocketed. However, Novavax was a laggard, and even with vaccine authorizations, the Company did not have an addressable market.</p><p>Besides the vaccine against COVID-19, the Company is working on clinical trials for seasonal influenza. However, even with COVID-19 and malaria vaccine authorization, the stock has remained depressed. It’s a clear indication of the weak market potential these vaccines hold.</p><p>I would, therefore, steer clear of NVAX stock with no major fundamental triggers. Cash burn is also likely to be sustained as Novavax invests in building a deeper pipeline.</p><h2 id=\"id_1632707750\">ChargePoint (CHPT)</h2><p><strong>ChargePoint</strong> (NYSE: <strong><u>CHPT</u></strong>) stock has been another wealth destroyer with a downside of almost 70% for year-to-date. I don’t see any hope for CHPT stock in 2024, and it’s among the top meme stocks to avoid.</p><p>The first reason to be bearish is that the EV charging industry is getting intensely competitive. I prefer to look at <strong><a href=\"https://laohu8.com/S/BLNK\">Blink Charging</a></strong> (NASDAQ: <strong><u>BLNK</u></strong>), which seems like a better option among peers. Further, if we look at the bigger names, Tesla’s EV charging business will create value in the coming years.</p><p>An important point to note is that ChargePoint reported revenue of $110 million for Q3 2024. Revenue declined on a year-on-year basis by 12%. This comes when peers have reported stellar revenue growth, even with cash burn.</p><p>ChargePoint reported an operating loss of $154 million on the cash burn front. Losses widened on a year-on-year basis. Losses have widened even for the first nine months of fiscal year 2024. Financial metrics are, therefore, poor, and ChargePoint would need to dilute equity next year. This can potentially trigger another round of sharp selling.</p></body></html>","source":"investorplace_stock_picks","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Meme Stocks That Could Fade Away in 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Meme Stocks That Could Fade Away in 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-19 22:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/12/3-meme-stocks-that-could-fade-away-in-2024/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>These are the meme stocks to avoid, as they will likely remain in a downtrend.Lucid Group (LCID): Production and deliveries are disappointing and cash burn will sustain for the next few years.Novavax ...</p>\n\n<a href=\"https://investorplace.com/2023/12/3-meme-stocks-that-could-fade-away-in-2024/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2063271972.USD":"富兰克林创新领域基金","LCID":"Lucid Group Inc","BK4527":"明星科技股","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","CHPT":"ChargePoint Holdings Inc.","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4588":"碎股","BK4568":"美国抗疫概念","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","BK4550":"红杉资本持仓","BK4542":"充电桩","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4551":"寇图资本持仓","BK4574":"无人驾驶","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","BK4581":"高盛持仓","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4096":"电气部件与设备","BK4099":"汽车制造商","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","NVAX":"诺瓦瓦克斯医药","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","BK4592":"伊斯兰概念","LU0056508442.USD":"贝莱德世界科技基金A2","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4139":"生物科技","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD"},"source_url":"https://investorplace.com/2023/12/3-meme-stocks-that-could-fade-away-in-2024/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2392134953","content_text":"These are the meme stocks to avoid, as they will likely remain in a downtrend.Lucid Group (LCID): Production and deliveries are disappointing and cash burn will sustain for the next few years.Novavax (NVAX): A laggard in the COVID-19 vaccine race and building a new pipeline would imply cash burn and no revenue visibility in the next few years.ChargePoint (CHPT): Cash burn and revenue deceleration in an intensely competitive EV charging industry.During the meme stocks rally of 2021, it seemed that all potential meme stocks skyrocketed. The speculative activity peaked, and short-squeeze rallies delivered multi-bagger returns in weeks. The euphoria was, however, short-lived. Investor interest in meme stocks remains high, and there continue to be opportunities to make quick money in the blink of an eye.However, there is one major difference between now and 2021. Not every meme stock that investors touch will turn gold. Investors need to exercise caution and remain selective even for speculative stocks.In my view, some meme stocks will likely fade away. High short interest in these stocks would not necessarily imply a short-squeeze rally. These are the meme stocks, and this column discusses three names that might continue to erode wealth in 2024.Let’s discuss the reasons to be bearish on these meme stocks.Lucid Group (LCID)From being touted as the Tesla (NASDAQ: TSLA) competitor, the fall for Lucid Group (NASDAQ: LCID) has been significant. Factors contributing to the decline include intense industry competition, slow execution of plans, and significant cash burn. Back in November 2021, the stock was trading above $55. Two years later, it’s a penny stock with a short interest of nearly 28%.Even the weakest names might have a speculative rally in a euphoric bull market. However, we are far from a full-fledged bull market. Market participants will continue to ignore LCID stock even at current levels. I must add that there is no major positive catalyst on the horizon.It’s true that Lucid is well financed through 2024. However, I expect cash burn to sustain for the next few years. Further dilution of equity is on the cards. Also, Lucid Gravity is unlikely to save the Company, given the response of earlier models and the sluggish production. LCID stock is, therefore, among the top meme stocks to avoid.Novavax (NVAX)In the last 12 months, Novavax (NASDAQ: NVAX) stock has plunged by 67%. However, I don’t see any hope, and a short interest of 40% indicates a bearish outlook for the stock. I would not bet on a short-squeeze rally because fundamental developments remain negative.Novavax was in the limelight during the pandemic. The Company was in the vaccine race, and NVAX stock skyrocketed. However, Novavax was a laggard, and even with vaccine authorizations, the Company did not have an addressable market.Besides the vaccine against COVID-19, the Company is working on clinical trials for seasonal influenza. However, even with COVID-19 and malaria vaccine authorization, the stock has remained depressed. It’s a clear indication of the weak market potential these vaccines hold.I would, therefore, steer clear of NVAX stock with no major fundamental triggers. Cash burn is also likely to be sustained as Novavax invests in building a deeper pipeline.ChargePoint (CHPT)ChargePoint (NYSE: CHPT) stock has been another wealth destroyer with a downside of almost 70% for year-to-date. I don’t see any hope for CHPT stock in 2024, and it’s among the top meme stocks to avoid.The first reason to be bearish is that the EV charging industry is getting intensely competitive. I prefer to look at Blink Charging (NASDAQ: BLNK), which seems like a better option among peers. Further, if we look at the bigger names, Tesla’s EV charging business will create value in the coming years.An important point to note is that ChargePoint reported revenue of $110 million for Q3 2024. Revenue declined on a year-on-year basis by 12%. This comes when peers have reported stellar revenue growth, even with cash burn.ChargePoint reported an operating loss of $154 million on the cash burn front. Losses widened on a year-on-year basis. Losses have widened even for the first nine months of fiscal year 2024. Financial metrics are, therefore, poor, and ChargePoint would need to dilute equity next year. This can potentially trigger another round of sharp selling.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":253897347449080,"gmtCreate":1703023463573,"gmtModify":1703023466680,"author":{"id":"3555362771681553","authorId":"3555362771681553","authorIdStr":"3555362771681553","name":"nywles","avatar":"https://static.tigerbbs.com/a7e6473ec2cec348d167d7d95fbdb76c","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3555362771681553"},"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/253897347449080","repostId":2392134953,"repostType":2,"repost":{"id":"2392134953","pubTimestamp":1702997974,"share":"https://ttm.financial/m/news/2392134953?lang=&edition=fundamental","pubTime":"2023-12-19 22:59","market":"us","language":"en","title":"3 Meme Stocks That Could Fade Away in 2024","url":"https://stock-news.laohu8.com/highlight/detail?id=2392134953","media":"InvestorPlace","summary":"These are the meme stocks to avoid or sell as they have extremely weak fundamentals and are unlikely to recover from a financial perspective.","content":"<html><head></head><body><ul style=\"\"><li><p>These are the meme stocks to avoid, as they will likely remain in a downtrend.</p></li><li><p><strong>Lucid Group</strong> (<strong><u>LCID</u></strong>): Production and deliveries are disappointing and cash burn will sustain for the next few years.</p></li><li><p><strong>Novavax</strong> (<strong><u>NVAX</u></strong>): A laggard in the COVID-19 vaccine race and building a new pipeline would imply cash burn and no revenue visibility in the next few years.</p></li><li><p><strong>ChargePoint</strong> (<strong><u>CHPT</u></strong>): Cash burn and revenue deceleration in an intensely competitive EV charging industry.</p></li></ul><p>During the meme stocks rally of 2021, it seemed that all potential meme stocks skyrocketed. The speculative activity peaked, and short-squeeze rallies delivered multi-bagger returns in weeks. The euphoria was, however, short-lived. Investor interest in meme stocks remains high, and there continue to be opportunities to make quick money in the blink of an eye.</p><p>However, there is one major difference between now and 2021. Not every meme stock that investors touch will turn gold. Investors need to exercise caution and remain selective even for speculative stocks.</p><p>In my view, some meme stocks will likely fade away. High short interest in these stocks would not necessarily imply a short-squeeze rally. These are the meme stocks, and this column discusses three names that might continue to erode wealth in 2024.</p><p>Let’s discuss the reasons to be bearish on these meme stocks.</p><h2 id=\"id_2377313118\">Lucid Group (LCID)</h2><p>From being touted as the <strong>Tesla</strong> (NASDAQ: <strong><u>TSLA</u></strong>) competitor, the fall for <strong>Lucid Group</strong> (NASDAQ: <strong><u>LCID</u></strong>) has been significant. Factors contributing to the decline include intense industry competition, slow execution of plans, and significant cash burn. Back in November 2021, the stock was trading above $55. Two years later, it’s a penny stock with a short interest of nearly 28%.</p><p>Even the weakest names might have a speculative rally in a euphoric bull market. However, we are far from a full-fledged bull market. Market participants will continue to ignore LCID stock even at current levels. I must add that there is no major positive catalyst on the horizon.</p><p>It’s true that Lucid is well financed through 2024. However, I expect cash burn to sustain for the next few years. Further dilution of equity is on the cards. Also, Lucid Gravity is unlikely to save the Company, given the response of earlier models and the sluggish production. LCID stock is, therefore, among the top meme stocks to avoid.</p><h2 id=\"id_3213159323\">Novavax (NVAX)</h2><p>In the last 12 months, <strong>Novavax</strong> (NASDAQ: <strong><u>NVAX</u></strong>) stock has plunged by 67%. However, I don’t see any hope, and a short interest of 40% indicates a bearish outlook for the stock. I would not bet on a short-squeeze rally because fundamental developments remain negative.</p><p>Novavax was in the limelight during the pandemic. The Company was in the vaccine race, and NVAX stock skyrocketed. However, Novavax was a laggard, and even with vaccine authorizations, the Company did not have an addressable market.</p><p>Besides the vaccine against COVID-19, the Company is working on clinical trials for seasonal influenza. However, even with COVID-19 and malaria vaccine authorization, the stock has remained depressed. It’s a clear indication of the weak market potential these vaccines hold.</p><p>I would, therefore, steer clear of NVAX stock with no major fundamental triggers. Cash burn is also likely to be sustained as Novavax invests in building a deeper pipeline.</p><h2 id=\"id_1632707750\">ChargePoint (CHPT)</h2><p><strong>ChargePoint</strong> (NYSE: <strong><u>CHPT</u></strong>) stock has been another wealth destroyer with a downside of almost 70% for year-to-date. I don’t see any hope for CHPT stock in 2024, and it’s among the top meme stocks to avoid.</p><p>The first reason to be bearish is that the EV charging industry is getting intensely competitive. I prefer to look at <strong><a href=\"https://laohu8.com/S/BLNK\">Blink Charging</a></strong> (NASDAQ: <strong><u>BLNK</u></strong>), which seems like a better option among peers. Further, if we look at the bigger names, Tesla’s EV charging business will create value in the coming years.</p><p>An important point to note is that ChargePoint reported revenue of $110 million for Q3 2024. Revenue declined on a year-on-year basis by 12%. This comes when peers have reported stellar revenue growth, even with cash burn.</p><p>ChargePoint reported an operating loss of $154 million on the cash burn front. Losses widened on a year-on-year basis. Losses have widened even for the first nine months of fiscal year 2024. Financial metrics are, therefore, poor, and ChargePoint would need to dilute equity next year. This can potentially trigger another round of sharp selling.</p></body></html>","source":"investorplace_stock_picks","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Meme Stocks That Could Fade Away in 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Meme Stocks That Could Fade Away in 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-19 22:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/12/3-meme-stocks-that-could-fade-away-in-2024/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>These are the meme stocks to avoid, as they will likely remain in a downtrend.Lucid Group (LCID): Production and deliveries are disappointing and cash burn will sustain for the next few years.Novavax ...</p>\n\n<a href=\"https://investorplace.com/2023/12/3-meme-stocks-that-could-fade-away-in-2024/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2063271972.USD":"富兰克林创新领域基金","LCID":"Lucid Group Inc","BK4527":"明星科技股","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","CHPT":"ChargePoint Holdings Inc.","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4588":"碎股","BK4568":"美国抗疫概念","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","BK4550":"红杉资本持仓","BK4542":"充电桩","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4551":"寇图资本持仓","BK4574":"无人驾驶","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","BK4581":"高盛持仓","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4096":"电气部件与设备","BK4099":"汽车制造商","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","NVAX":"诺瓦瓦克斯医药","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","BK4592":"伊斯兰概念","LU0056508442.USD":"贝莱德世界科技基金A2","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4139":"生物科技","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD"},"source_url":"https://investorplace.com/2023/12/3-meme-stocks-that-could-fade-away-in-2024/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2392134953","content_text":"These are the meme stocks to avoid, as they will likely remain in a downtrend.Lucid Group (LCID): Production and deliveries are disappointing and cash burn will sustain for the next few years.Novavax (NVAX): A laggard in the COVID-19 vaccine race and building a new pipeline would imply cash burn and no revenue visibility in the next few years.ChargePoint (CHPT): Cash burn and revenue deceleration in an intensely competitive EV charging industry.During the meme stocks rally of 2021, it seemed that all potential meme stocks skyrocketed. The speculative activity peaked, and short-squeeze rallies delivered multi-bagger returns in weeks. The euphoria was, however, short-lived. Investor interest in meme stocks remains high, and there continue to be opportunities to make quick money in the blink of an eye.However, there is one major difference between now and 2021. Not every meme stock that investors touch will turn gold. Investors need to exercise caution and remain selective even for speculative stocks.In my view, some meme stocks will likely fade away. High short interest in these stocks would not necessarily imply a short-squeeze rally. These are the meme stocks, and this column discusses three names that might continue to erode wealth in 2024.Let’s discuss the reasons to be bearish on these meme stocks.Lucid Group (LCID)From being touted as the Tesla (NASDAQ: TSLA) competitor, the fall for Lucid Group (NASDAQ: LCID) has been significant. Factors contributing to the decline include intense industry competition, slow execution of plans, and significant cash burn. Back in November 2021, the stock was trading above $55. Two years later, it’s a penny stock with a short interest of nearly 28%.Even the weakest names might have a speculative rally in a euphoric bull market. However, we are far from a full-fledged bull market. Market participants will continue to ignore LCID stock even at current levels. I must add that there is no major positive catalyst on the horizon.It’s true that Lucid is well financed through 2024. However, I expect cash burn to sustain for the next few years. Further dilution of equity is on the cards. Also, Lucid Gravity is unlikely to save the Company, given the response of earlier models and the sluggish production. LCID stock is, therefore, among the top meme stocks to avoid.Novavax (NVAX)In the last 12 months, Novavax (NASDAQ: NVAX) stock has plunged by 67%. However, I don’t see any hope, and a short interest of 40% indicates a bearish outlook for the stock. I would not bet on a short-squeeze rally because fundamental developments remain negative.Novavax was in the limelight during the pandemic. The Company was in the vaccine race, and NVAX stock skyrocketed. However, Novavax was a laggard, and even with vaccine authorizations, the Company did not have an addressable market.Besides the vaccine against COVID-19, the Company is working on clinical trials for seasonal influenza. However, even with COVID-19 and malaria vaccine authorization, the stock has remained depressed. It’s a clear indication of the weak market potential these vaccines hold.I would, therefore, steer clear of NVAX stock with no major fundamental triggers. Cash burn is also likely to be sustained as Novavax invests in building a deeper pipeline.ChargePoint (CHPT)ChargePoint (NYSE: CHPT) stock has been another wealth destroyer with a downside of almost 70% for year-to-date. I don’t see any hope for CHPT stock in 2024, and it’s among the top meme stocks to avoid.The first reason to be bearish is that the EV charging industry is getting intensely competitive. I prefer to look at Blink Charging (NASDAQ: BLNK), which seems like a better option among peers. Further, if we look at the bigger names, Tesla’s EV charging business will create value in the coming years.An important point to note is that ChargePoint reported revenue of $110 million for Q3 2024. Revenue declined on a year-on-year basis by 12%. This comes when peers have reported stellar revenue growth, even with cash burn.ChargePoint reported an operating loss of $154 million on the cash burn front. Losses widened on a year-on-year basis. Losses have widened even for the first nine months of fiscal year 2024. Financial metrics are, therefore, poor, and ChargePoint would need to dilute equity next year. This can potentially trigger another round of sharp selling.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":253614779551944,"gmtCreate":1702936710774,"gmtModify":1702936714181,"author":{"id":"3555362771681553","authorId":"3555362771681553","authorIdStr":"3555362771681553","name":"nywles","avatar":"https://static.tigerbbs.com/a7e6473ec2cec348d167d7d95fbdb76c","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3555362771681553"},"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/253614779551944","repostId":2392134953,"repostType":2,"repost":{"id":"2392134953","pubTimestamp":1702997974,"share":"https://ttm.financial/m/news/2392134953?lang=&edition=fundamental","pubTime":"2023-12-19 22:59","market":"us","language":"en","title":"3 Meme Stocks That Could Fade Away in 2024","url":"https://stock-news.laohu8.com/highlight/detail?id=2392134953","media":"InvestorPlace","summary":"These are the meme stocks to avoid or sell as they have extremely weak fundamentals and are unlikely to recover from a financial perspective.","content":"<html><head></head><body><ul style=\"\"><li><p>These are the meme stocks to avoid, as they will likely remain in a downtrend.</p></li><li><p><strong>Lucid Group</strong> (<strong><u>LCID</u></strong>): Production and deliveries are disappointing and cash burn will sustain for the next few years.</p></li><li><p><strong>Novavax</strong> (<strong><u>NVAX</u></strong>): A laggard in the COVID-19 vaccine race and building a new pipeline would imply cash burn and no revenue visibility in the next few years.</p></li><li><p><strong>ChargePoint</strong> (<strong><u>CHPT</u></strong>): Cash burn and revenue deceleration in an intensely competitive EV charging industry.</p></li></ul><p>During the meme stocks rally of 2021, it seemed that all potential meme stocks skyrocketed. The speculative activity peaked, and short-squeeze rallies delivered multi-bagger returns in weeks. The euphoria was, however, short-lived. Investor interest in meme stocks remains high, and there continue to be opportunities to make quick money in the blink of an eye.</p><p>However, there is one major difference between now and 2021. Not every meme stock that investors touch will turn gold. Investors need to exercise caution and remain selective even for speculative stocks.</p><p>In my view, some meme stocks will likely fade away. High short interest in these stocks would not necessarily imply a short-squeeze rally. These are the meme stocks, and this column discusses three names that might continue to erode wealth in 2024.</p><p>Let’s discuss the reasons to be bearish on these meme stocks.</p><h2 id=\"id_2377313118\">Lucid Group (LCID)</h2><p>From being touted as the <strong>Tesla</strong> (NASDAQ: <strong><u>TSLA</u></strong>) competitor, the fall for <strong>Lucid Group</strong> (NASDAQ: <strong><u>LCID</u></strong>) has been significant. Factors contributing to the decline include intense industry competition, slow execution of plans, and significant cash burn. Back in November 2021, the stock was trading above $55. Two years later, it’s a penny stock with a short interest of nearly 28%.</p><p>Even the weakest names might have a speculative rally in a euphoric bull market. However, we are far from a full-fledged bull market. Market participants will continue to ignore LCID stock even at current levels. I must add that there is no major positive catalyst on the horizon.</p><p>It’s true that Lucid is well financed through 2024. However, I expect cash burn to sustain for the next few years. Further dilution of equity is on the cards. Also, Lucid Gravity is unlikely to save the Company, given the response of earlier models and the sluggish production. LCID stock is, therefore, among the top meme stocks to avoid.</p><h2 id=\"id_3213159323\">Novavax (NVAX)</h2><p>In the last 12 months, <strong>Novavax</strong> (NASDAQ: <strong><u>NVAX</u></strong>) stock has plunged by 67%. However, I don’t see any hope, and a short interest of 40% indicates a bearish outlook for the stock. I would not bet on a short-squeeze rally because fundamental developments remain negative.</p><p>Novavax was in the limelight during the pandemic. The Company was in the vaccine race, and NVAX stock skyrocketed. However, Novavax was a laggard, and even with vaccine authorizations, the Company did not have an addressable market.</p><p>Besides the vaccine against COVID-19, the Company is working on clinical trials for seasonal influenza. However, even with COVID-19 and malaria vaccine authorization, the stock has remained depressed. It’s a clear indication of the weak market potential these vaccines hold.</p><p>I would, therefore, steer clear of NVAX stock with no major fundamental triggers. Cash burn is also likely to be sustained as Novavax invests in building a deeper pipeline.</p><h2 id=\"id_1632707750\">ChargePoint (CHPT)</h2><p><strong>ChargePoint</strong> (NYSE: <strong><u>CHPT</u></strong>) stock has been another wealth destroyer with a downside of almost 70% for year-to-date. I don’t see any hope for CHPT stock in 2024, and it’s among the top meme stocks to avoid.</p><p>The first reason to be bearish is that the EV charging industry is getting intensely competitive. I prefer to look at <strong><a href=\"https://laohu8.com/S/BLNK\">Blink Charging</a></strong> (NASDAQ: <strong><u>BLNK</u></strong>), which seems like a better option among peers. Further, if we look at the bigger names, Tesla’s EV charging business will create value in the coming years.</p><p>An important point to note is that ChargePoint reported revenue of $110 million for Q3 2024. Revenue declined on a year-on-year basis by 12%. This comes when peers have reported stellar revenue growth, even with cash burn.</p><p>ChargePoint reported an operating loss of $154 million on the cash burn front. Losses widened on a year-on-year basis. Losses have widened even for the first nine months of fiscal year 2024. Financial metrics are, therefore, poor, and ChargePoint would need to dilute equity next year. This can potentially trigger another round of sharp selling.</p></body></html>","source":"investorplace_stock_picks","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Meme Stocks That Could Fade Away in 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Meme Stocks That Could Fade Away in 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-19 22:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/12/3-meme-stocks-that-could-fade-away-in-2024/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>These are the meme stocks to avoid, as they will likely remain in a downtrend.Lucid Group (LCID): Production and deliveries are disappointing and cash burn will sustain for the next few years.Novavax ...</p>\n\n<a href=\"https://investorplace.com/2023/12/3-meme-stocks-that-could-fade-away-in-2024/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2063271972.USD":"富兰克林创新领域基金","LCID":"Lucid Group Inc","BK4527":"明星科技股","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","CHPT":"ChargePoint Holdings Inc.","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4588":"碎股","BK4568":"美国抗疫概念","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","BK4550":"红杉资本持仓","BK4542":"充电桩","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4551":"寇图资本持仓","BK4574":"无人驾驶","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","BK4581":"高盛持仓","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4096":"电气部件与设备","BK4099":"汽车制造商","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","NVAX":"诺瓦瓦克斯医药","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","BK4592":"伊斯兰概念","LU0056508442.USD":"贝莱德世界科技基金A2","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4139":"生物科技","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD"},"source_url":"https://investorplace.com/2023/12/3-meme-stocks-that-could-fade-away-in-2024/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2392134953","content_text":"These are the meme stocks to avoid, as they will likely remain in a downtrend.Lucid Group (LCID): Production and deliveries are disappointing and cash burn will sustain for the next few years.Novavax (NVAX): A laggard in the COVID-19 vaccine race and building a new pipeline would imply cash burn and no revenue visibility in the next few years.ChargePoint (CHPT): Cash burn and revenue deceleration in an intensely competitive EV charging industry.During the meme stocks rally of 2021, it seemed that all potential meme stocks skyrocketed. The speculative activity peaked, and short-squeeze rallies delivered multi-bagger returns in weeks. The euphoria was, however, short-lived. Investor interest in meme stocks remains high, and there continue to be opportunities to make quick money in the blink of an eye.However, there is one major difference between now and 2021. Not every meme stock that investors touch will turn gold. Investors need to exercise caution and remain selective even for speculative stocks.In my view, some meme stocks will likely fade away. High short interest in these stocks would not necessarily imply a short-squeeze rally. These are the meme stocks, and this column discusses three names that might continue to erode wealth in 2024.Let’s discuss the reasons to be bearish on these meme stocks.Lucid Group (LCID)From being touted as the Tesla (NASDAQ: TSLA) competitor, the fall for Lucid Group (NASDAQ: LCID) has been significant. Factors contributing to the decline include intense industry competition, slow execution of plans, and significant cash burn. Back in November 2021, the stock was trading above $55. Two years later, it’s a penny stock with a short interest of nearly 28%.Even the weakest names might have a speculative rally in a euphoric bull market. However, we are far from a full-fledged bull market. Market participants will continue to ignore LCID stock even at current levels. I must add that there is no major positive catalyst on the horizon.It’s true that Lucid is well financed through 2024. However, I expect cash burn to sustain for the next few years. Further dilution of equity is on the cards. Also, Lucid Gravity is unlikely to save the Company, given the response of earlier models and the sluggish production. LCID stock is, therefore, among the top meme stocks to avoid.Novavax (NVAX)In the last 12 months, Novavax (NASDAQ: NVAX) stock has plunged by 67%. However, I don’t see any hope, and a short interest of 40% indicates a bearish outlook for the stock. I would not bet on a short-squeeze rally because fundamental developments remain negative.Novavax was in the limelight during the pandemic. The Company was in the vaccine race, and NVAX stock skyrocketed. However, Novavax was a laggard, and even with vaccine authorizations, the Company did not have an addressable market.Besides the vaccine against COVID-19, the Company is working on clinical trials for seasonal influenza. However, even with COVID-19 and malaria vaccine authorization, the stock has remained depressed. It’s a clear indication of the weak market potential these vaccines hold.I would, therefore, steer clear of NVAX stock with no major fundamental triggers. Cash burn is also likely to be sustained as Novavax invests in building a deeper pipeline.ChargePoint (CHPT)ChargePoint (NYSE: CHPT) stock has been another wealth destroyer with a downside of almost 70% for year-to-date. I don’t see any hope for CHPT stock in 2024, and it’s among the top meme stocks to avoid.The first reason to be bearish is that the EV charging industry is getting intensely competitive. I prefer to look at Blink Charging (NASDAQ: BLNK), which seems like a better option among peers. Further, if we look at the bigger names, Tesla’s EV charging business will create value in the coming years.An important point to note is that ChargePoint reported revenue of $110 million for Q3 2024. Revenue declined on a year-on-year basis by 12%. This comes when peers have reported stellar revenue growth, even with cash burn.ChargePoint reported an operating loss of $154 million on the cash burn front. Losses widened on a year-on-year basis. Losses have widened even for the first nine months of fiscal year 2024. Financial metrics are, therefore, poor, and ChargePoint would need to dilute equity next year. This can potentially trigger another round of sharp selling.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":15,"commentSize":3,"repostSize":3,"favoriteSize":0,"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":"4.28.3","shortVersion":"4.28.3","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/2392134953"}