3 Penny Stocks to Sell in May Before They Crash & Burn

InvestorPlace05-15

These are three penny stocks to sell now. Tupperware Brands (TUP): The meme stock favorite rallied sharply Monday but fundamentals remain weak. Virgin Galactic (SPCE): The space tourism penny stock is...

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Gill was a key player in the GameStop  short squeeze a few years ago, and his tweet seemingly sparked a 74% rally in GME stock on Monday.It wasn’t just GameStop, either. Other meme stocks such as AMC Entertainment  and Koss  blasted off on the Roaring Kitty news.This excitement led to broader enthusiasm across the meme and penny stock arenas. Short sellers, remembering the outsized in volatility in 2021, rushed to reduce their exposure to these sorts of securities on Monda","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","BK4550":"红杉资本持仓","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4180":"家用器具与特殊消费品","BK4551":"寇图资本持仓","GME":"游戏驿站","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4547":"WSB热门概念","BA":"波音","KOSS":"高斯电子","BK4096":"电气部件与设备","AMC":"AMC院线","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4511":"特斯拉概念","BK4099":"汽车制造商","BK4548":"巴美列捷福持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0823411888.USD":"法巴消费创新基金 Cap","TUP":"特百惠","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1861558580.USD":"日兴方舟颠覆性创新基金B","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4516":"特朗普概念","BK4564":"太空概念","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4187":"航天航空与国防","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4108":"电影和娱乐","CHPT":"ChargePoint Holdings Inc.","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","SPCE":"维珍银河","BK4555":"新能源车","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0823414478.USD":"法巴经典能源转换基金","BK4542":"充电桩","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD"},"translate_title":"3只低价股将在5月份崩盘前卖出","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BA":1,"TUP":1,"SPCE":1,"KOSS":1,"GME":1,"CHPT":1,"AMC":1},"content_text":"These are three penny stocks to sell now.\nTupperware Brands (TUP): The meme stock favorite rallied sharply Monday but fundamentals remain weak.\nVirgin Galactic (SPCE): The space tourism penny stock is struggling to get off the launch pad.\nChargePoint Holdings (CHPT): The company’s EV charging model has failed to gain commercial traction.\n\n\n\n\n\n \n\n\nTraders are getting excited about penny stocks right now. \nKeith Gill, a trader more well-known by the alias Roaring Kitty, resurfaced on social media with a tweet of a man holding a video game controller. Gill was a key player in the GameStop (NYSE:GME) short squeeze a few years ago, and his tweet seemingly sparked a 74% rally in GME stock on Monday.\nIt wasn’t just GameStop, either. Other meme stocks such as AMC Entertainment (NYSE:AMC) and Koss (NASDAQ:KOSS) blasted off on the Roaring Kitty news.\nThis excitement led to broader enthusiasm across the meme and penny stock arenas. Short sellers, remembering the outsized in volatility in 2021, rushed to reduce their exposure to these sorts of securities on Monday.\nIt’s tempting to play the meme stocks for a quick trade to the upside. However, not all of these heavily shorted companies are created equal; these three penny stocks to sell in particular are still bad bets even if a meme stock revival is upon us.\nTupperware Brands (TUP)\nSource: nipastock / ShutterstockTupperware Brands (NYSE:TUP) is one of the penny stocks that benefitted most from the Roaring Kitty news. TUP stock rocketed 36% higher on Monday despite there being no company-specific news to justify such a move.\nMeanwhile, Tupperware’s financial outlook remains perilous. The company recently warned that it may struggle to remain a “going concern” given its challenged balance sheet and large operating losses.\nThe company’s prospects have dimmed both due to higher operating and input costs and also changing consumer behavior. Investors should be particularly cautious as Tupperware has struggled to file its recent annual reports on time, casting further uncertainty on the company’s financial outlook.\nCould Tupperware manage to improve its financial situation and survive its current slump? It’s certainly possible. But a tweet from Roaring Kitty is unlikely to make any significant impact to Tupperware’s financial outlook. As such, this is a penny stock to sell on the recent rally.\nVirgin Galactic (SPCE)\nSource: Brian Friedman / Shutterstock.comVirgin Galactic (NYSE:SPCE) seemed like a great idea. The visionary Richard Branson made a splash with his plan to make space tourism a reality. The stuff of science fiction would finally be available to the general public.\nUnfortunately, it hasn’t been all smooth sailing for this space start-up. For one thing, Virgin Galactic isn’t necessarily space tourism of the sort you’d see in sci-fi films. \nRather, Virgin Galactic plans to offer merely short hops just above the atmosphere so that guests can enjoy a brief zero-gravity experience. This would be undoubtedly exciting, but it’s not exactly the same thing as going to the moon or a space station. Critics have suggested that there may not be demand for Virgin Galactic flights at the proposed price point.\nThose concerns appear to be playing out. Virgin Galactic found demand to be underwhelming, and has since delayed its plans to begin regularly-scheduled commercial flights while it seeks to develop a better space vehicle. However, key partner Boeing (NYSE:BA) is now going after Virgin Galactic for allegedly not paying on $26.4 million of invoices along with misappropriating trade secrets.\nThis is just another headache for a firm that was already in trouble. Virgin Galactic has $418 million of long-term debt and $661 million of total liabilities, meaning that the clock is ticking for this penny stock to sell, given its large operating losses and lack of revenues. Mr. Branson also suggested that he doesn’t want to invest more money in the company, which further raises doubts about how Virgin Galactic will survive for the long haul.\nChargePoint Holdings (CHPT)\nSource: JL IMAGES / Shutterstock.comChargePoint Holdings (NYSE:CHPT) is a company seeking to power up the electric vehicle landscape.\nA few years ago, EV charging seemed like an obvious “picks and shovels” way to play the electric vehicle revolution. Regardless of which brands and models took off, the EV charging companies could be neutral third parties which would provide infrastructure for the underlying EV ecosystem.\nUnfortunately, it’s proven more challenging than expected. Incumbent players such as Tesla (NASDAQ:TSLA) have already built out large charging networks, making the space more competitive. Meanwhile, costs for building out charging stations have been high and it’s taken longer to earn acceptable returns on investment than previously budgeted.\nIn fact, there’s no guarantee that ChargePoint is ever going to make it to sustainable profitability. \nChargePoint’s Q4 earnings results were dismal. Revenues plunged 24% year-over-year. The firm’s adjusted EBITDA loss widened. And worst of all, ChargePoint guided to just $105 million in midpoint Q1 revenues, compared to street estimates of $127 million.\nCHPT stock jumped 12% on the Roaring Kitty news Monday. But there’s little fundamental reason for the surge, making this a penny stock to sell now.\nOn Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.\nRead More:Penny Stocks — How to Profit Without Getting Scammed\nOn the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nIan Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.Penny Stocks\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/05/3-penny-stocks-to-sell-in-may-before-they-crash-burn/.\n©2024 InvestorPlace Media, LLC","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":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"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":"4.24.0","shortVersion":"4.24.0","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/2435838680"}