Have the meme stocks lost their appeal?

Some in the meme community are viewing $Roblox Corporation(RBLX)$ as a potential short-squeeze target, as it shares similar appeals as other meme stocks. While Roblox is a gaming company, investing isn’t just a game, and I prefer to invest in fundamentally strong companies. The user base of Roblox is restricted, as the gaming platform is attracting mainly younger children with limited spending budgets. With limited growth potential, the odds are against Roblox's latest earnings results on 1 August that I expect to disappoint. For lack of a brave heart, I would avoid joining the meme trades.

$Faraday Future Intelligent Electric Inc.(FFIE)$   will hold an AGM on 31 July when its shareholders will vote on the proposed shares consolidation up to 1-for-40 outstanding shares in a bid to boost its stock price to comply with NASDAQ's requirements in order to maintain its listing. Short of any turnaround strategy, I doubt any shares consolidation will save the struggling EV maker amid its deteriorating fundamentals and sluggish demands for its pricey vehicles. In fact, I continue to doubt its ability to remain a going concern even after the reverse stock split. Hence, I doubt that the forthcoming shares consolidation is going to save the day, and I believe it will merely prolong the pain.

$AMC Entertainment(AMC)$ has just warned of weakness of its second-quarter earnings, blaming that last year's actors and writers strike for a slowdown in theatrical releases has led to earnings and profits in the quarter ended June 30 to fall. Despite returning crowds to its theatres post-COVID pandemic measures and releases of blockbuster movies, AMC has yet to renew its growth, as the largest cinema chain in United States struggles to remain relevant post pandemic and stay competitive amidst rising popularity of online streaming services by the likes of Netflix, Disney and Amazon, that has threatened the relevance of physical theatres. AMC will need to continue to reinvent itself to stay competitive and remain relevant in the new normal post pandemic that has changed forever the way many people would watch movies.

Cryptocurrencies have suffered alongside the tech stock rout this week, and are not helped by big whales offloading their cryptocurrency holdings and lacklustre launches of spot Ethereum ETFs this week. The outcome is a drag on $Coinbase Global, Inc.(COIN)$  stock performance, as the cryptocurrency exchange has been weighed under the current correction in the crypto market. Nevertheless, expectations of rate cuts in the second half of this year will help to encourage trading of risky assets like cryptocurrencies, driving up trading volumes for Coinbase. Hence, I remain optimistic on Coinbase as the cryptocurrency exchange platform benefits from increased trading on cryptocurrencies with spot Bitcoin ETFs and newly launched spot Ethereum ETFs.

$Tesla Motors(TSLA)$ 's latest earnings results might have disappointed the market and sent its stock price plunging this week. A delay in the launch of its robotaxi has also disillusioned investors. Nevertheless, the earnings bar is also arguably high, as investors look to justify Tesla's buoyant stock price. I remain convinced with Elon Musk's vision to transform the EV market leader into an artificial intelligence colossus over time. Meanwhile, the company witnessed its soaring energy storage sales, and focused investors' attention on a future filled with its humanoid robots now in development. Prevailing short-term price weakness may present an opportunity to accumulate for long-term growth.

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