Meme Stock Profit-Taking: 3 Companies to Sell While You’re Ahead

InvestorPlace05-21

You’ve had your fun. Now it’s time to consider meme stocks to sell. MicroCloud Hologram (HOLO): MicroCloud’s lidar business may be enticing but it has multiple red flags. GreenWave Technology ...

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Now it’s time to consider meme stocks to sell.\nMicroCloud Hologram (HOLO): MicroCloud’s lidar business may be enticing but it has multiple red flags.\nGreenWave Technology ...</p>\n\n<a href=\"https://investorplace.com/2024/05/meme-stock-profit-taking-3-companies-to-sell-while-youre-ahead/\">Source Link</a>\n\n</div>\n","source":"investorplace_stock_picks","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>Meme Stock Profit-Taking: 3 Companies to Sell While You’re Ahead</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\">\nMeme Stock Profit-Taking: 3 Companies to Sell While You’re Ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-21 18:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2024/05/meme-stock-profit-taking-3-companies-to-sell-while-youre-ahead/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You’ve had your fun. Now it’s time to consider meme stocks to sell.\nMicroCloud Hologram (HOLO): MicroCloud’s lidar business may be enticing but it has multiple red flags.\nGreenWave Technology ...</p>\n\n<a href=\"https://investorplace.com/2024/05/meme-stock-profit-taking-3-companies-to-sell-while-youre-ahead/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GWAV","symbol_name":"Greenwave Technology Solutions Inc.","start_time":0,"source_url":"https://investorplace.com/2024/05/meme-stock-profit-taking-3-companies-to-sell-while-youre-ahead/","article_id":"2437492441","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2437492441","pubTimestamp":1716285600,"sourceInfo":{"source_id":"investorplace_stock_picks","name":"InvestorPlace stock picks"},"weMediaInfo":null,"summary":"With the return of Keith Gill – the trader best known as “Roaring Kitty” – market speculation surged, yet the potentially short-lived nature of the…","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GWAV":"Greenwave Technology Solutions Inc.","BK4108":"电影和娱乐","BK4547":"WSB热门概念","BK4523":"印度概念","TTM":"塔塔汽车","BK4120":"环境与设施服务","BK4090":"商品化工","BK4023":"应用软件","BK4099":"汽车制造商","HOLO":"MicroCloud Hologram Inc.","AMC":"AMC院线","CRKN":"Crown Electrokinetics Corp."},"translate_title":"Meme股票获利回吐：领先时出售3家公司","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMC":1,"CRKN":1,"GWAV":1,"HOLO":1,"TTM":1},"content_text":"You’ve had your fun. Now it’s time to consider meme stocks to sell.\nMicroCloud Hologram (HOLO): MicroCloud’s lidar business may be enticing but it has multiple red flags.\nGreenWave Technology Solutions (GWAV): GreenWave features a relevant business but that’s not enough.\nCrown Electrokinetics (CRKN): Crown Electrokinetics simply makes very little revenue against steep losses.\n\n\n\n\n\n \n\nSource: Michael Vi / Shutterstock\n\n\n\nWith the return of Keith Gill – the trader best known as “Roaring Kitty” – market speculation surged, yet the potentially short-lived nature of the rally presents a case for meme stocks to sell.\nTo be sure, the explosive rally for enterprises like cineplex operator AMC Entertainment (NYSE:AMC) was nothing short of impressive. At the same time, the collapse has been rapid. Not only that, after-hours trading indicates continued volatility could be in the works.\nThat’s not a great situation for the meme trades, largely because investors know the drill. The element of surprise simply doesn’t exist to the same magnitude as it did years ago. With that in mind, it may be best to exit while you’re ahead. Here are three meme stocks to sell.\nMicroCloud Hologram (HOLO)\nSource: sdecoret / Shutterstock.comBased in China, MicroCloud Hologram (NASDAQ:HOLO) falls under the electronic components category. Per its public profile, MicroCloud provides holographic technology services worldwide. It operates in two segments: Holographic Solutions and Holographic Technology Services. In particular, it may be best known for its light detection and ranging (lidar) business.\nWhile MicroCloud theoretically offers relevancies in the field of autonomous driving solutions, HOLO is simply far too volatile. Yes, in the business week ending May 17, HOLO gained almost 28% of equity value. At one point, shares reached a height of $3.50. They started the week priced at $1.62, just to give you an idea of the explosiveness.\nNevertheless, since the beginning of January, HOLO is down 42%. In the past 52 weeks, it lost almost 91%. Financially, there doesn’t seem to be much to suggest that a trend reversal will materialize. Per Gurufocus, the company suffers from multiple red flags, including an Altman Z-Score reflecting severe distress.\nIf you managed to be profitable, great! But it’s probably one of the meme stocks to sell now.\nGreenWave Technology Solutions (GWAV)\nSource: shutterstock.com/ChrisStock82Headquartered in Chesapeake, Virginia, GreenWave Technology Solutions (NASDAQ:GWAV) falls under the broad industrials category. Specifically, it’s involved in waste management. Per its corporate profile, GreenWave operates metal recycling facilities in Virginia, Ohio and North Carolina. The company collects, classifies and processes appliances, construction materials, end-of-life vehicles, boats and industrial machinery. On paper, it seems extraordinarily relevant.\nIn that sense, it may not be surprising that GWAV gained 274% last week. Given the robustness of the move, a temptation exists to keep plugging away. However, Friday’s afterhours session saw a decline of nearly 14%. That’s not encouraging. Neither is the fact that since the start of the year, GWAV suffered a loss of over 74%.\nIf that wasn’t enough of a warning, here’s the deal. Gurufocus identifies six red flags. As you might imagine, GreenWave’s business is in distress, as evidenced by its deeply negative Altman Z-Score. Also, the company continues to issue new debt, which is a problem. It features trailing-12-month (TTM) revenue of $35.67 million yet it loses $33.6 million.\nAgain, if you made profits, great. However, GWAV may be one of the meme stocks to sell.\nCrown Electrokinetics (CRKN)\nSource: ventdusud / Shutterstock.comHailing from Corvallis, Oregon, Crown Electrokinetics (NASDAQ:CRKN) falls under the basic materials category, specifically specialty chemicals. Per its corporate profile, Crown develops and sells optical switching films in the U.S. It operates in two segments: Electrokinetic Film Technology Division and Fiber Optics Division. Its fiber optics unit in particular features utility in 5G and telecommunications infrastructure.\nSubsequently, the underlying utility might be enough for speculators to consider holding steady on CRKN stock. After all, the security gained over 304% last week. Still, last Friday’s session was volatile, losing almost 29% of equity value. Even with the blistering print recently, on a year-to-date basis, Crown is up only 14%. To emphasize the wildness, CRKN is down a staggering 98.45% in the past one year.\nIt’s best to avoid the company. For one thing, CRKN was done over 15% during Friday’s afterhours session. Financially, the company only generates $153,000 in TTM revenue, while losing $29.66 million in the bottom line.\nI’ll say it one last time: if you made a profit here, awesome. It’s probably one of the meme stocks to sell now.\nOn the date of publication, Josh Enomoto 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.\nA former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.Meme 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/meme-stock-profit-taking-3-companies-to-sell-while-youre-ahead/.\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":0},"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":"4.24.2","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/2437492441"}