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William_Chow
2023-12-04

7 Sorry Meme Stocks to Sell in December

explore key meme stocks to avoid in the current volatile equities market, where social media hype continues to overshadow fundamentals

7 Sorry Meme Stocks to Sell in December

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The social media-driven phenomenon has effectively turned stocks you’d typically avoid into viral sensations, leading to temporary price surges as communities rally to boost their value. While this could potentially lead to short-term gains, the underlying risks remain substantial. Fueled by hype more than fundamentals, these meme stocks can be dangerous bets.</p><p>Moreover, the fervor of online communities, often backed by thorough research, doesn’t usually equate to stability in these stocks. The flip side of this coin is stark, with significant financial losses for those caught in the hype without caution. Therefore, it’s prudent to be wary of these meme stocks to avoid, as their potential downfall usually overshadows their fleeting glory.</p><h2 id=\"id_3766726674\">Meme Stocks To Avoid: Tupperware (TUP)</h2><p>Once a darling of the meme stock era, <strong>Tupperware</strong> (NYSE: <strong>TUP</strong>) effectively serves as a cautionary tale in the stock market. The American multinational, known for its kitchen and home products, has lost its sheen, and recent woes amplify its troubles, including the failure to file its SEC Form 10Q quarterly report. This delay, attributed to significant employee attrition in critical accounting roles, signals deeper operational problems. Moreover, the departure of PwC as the company’s public accounting firm adds to the uncertainty. While there’s no dispute between Tupperware and PwC, the latter’s refusal to audit the fiscal year 2023 continues to raise eyebrows.</p><p>Furthermore, while not adverse, PwC’s previous reports flagged substantial doubts about Tupperware’s ongoing viability. This backdrop of strained resources and lost continuity in expertise casts a shadow over Tupperware’s future. In this light, Tupperware resembles less a promising investment and more a relic, struggling to regain its former glory amidst many challenges.</p><h2 id=\"id_200369547\">Carvana (CVNA)</h2><p><strong>Carvana</strong> (NYSE: <strong>CVNA</strong>), with its innovative digital platform and unique car vending machines, was once touted as a disruptor in the used car industry. However, recent developments cast a shadow over its potential. The company’s latest earnings report confirms a continuing trend of substantial losses, coupled with a warning of decline as the auto market cools down.</p><p>Furthermore, its reliance on technology to elevate prices could be a to capture fleeting gains. Still, this strategy seems increasingly untenable in the long run without a clear path to profitability. The optimistic tone from investor relations starkly contrasts with the reality of ongoing financial losses, painting a grim picture for investors. This continual drain on resources, without a foreseeable turnaround plan in place, makes Carvana a less-than-desirable option for those looking to invest in the automotive sector.</p><h2 id=\"id_3123765921\">Meme Stocks to Avoid: GameStop (GME)</h2><p>The meme stock frenzy of 2021, with <strong>GameStop</strong> (NYSE: <strong>GME</strong>) at the center seems to have faded into financial history. Nevertheless, the reality around the truth is stark and is of a  retailer grappling with obsolescence, its physical business model eclipsed by digital gaming platforms like Steam and <strong>Microsoft </strong>(NASDAQ: <strong>MSFT</strong>). The company’s balance sheet fails to impress, further dimming its prospects.</p><p>The investment thesis for GME stock now hinges on a miraculous turnaround strategy from CEO Ryan Cohen. However, as another holiday season approaches, GameStop is expected to mirror the struggles typical of its recent past marked by poor comparable sales, store closures, and warning signs amplified by a weakening economy and fluctuating gaming industry trends. These factors position GME stock as a likely disappointment for 2024, making it a candidate for investors to discard from your portfolios.</p><h2 id=\"id_2042836879\">WeWork (WE)</h2><p><strong>WeWork</strong> (OTCMKTS: <strong>WEWKQ</strong>), once a commercial real estate sector titan, is now teetering on the brink of collapse. The firm, known for its ambitious expansion, has incurred billions in operating losses in its pursuit of growth. However, the advent of the pandemic drastically reduced demand, leaving the company in a precarious position to recoup its massive investments in leases. From a valuation north of $40 billion at its peak, WeWork’s trajectory nosedived following a botched IPO in 2019 and the pandemic’s shift to remote work, culminating in Chapter 11 proceedings.</p><p>As of November 7, the company faced approximately $4.2 billion in funded debt obligations. Its restructuring agreement, aimed at reducing this debt by about $3 billion, involves rejecting more than 60 unnecessary leases. This move is a strategic attempt to slash high fixed operational costs at underperforming locations, allowing the company to focus on more profitable sites.</p><h2 id=\"id_241634715\">Meme Stocks to Avoid: <a href=\"https://laohu8.com/S/MULN\">Mullen Automotive</a> (MULN)</h2><p><strong>Mullen Automotive</strong> (NASDAQ: <strong>MULN</strong>), once a promising entrant in the EV sector, now epitomizes the challenges of materializing potential in this competitive sphere. Furthermore, with its latest move, shareholders are gearing up for a crucial Dec. 15 vote on CEO David Michery’s proposal for a third reverse stock split this year, a strategy to maintain Nasdaq listing standards. However, this tactic will only lead to another price decline,  underscoring the company’s precarious state.</p><p>Furthermore, its financials are telling, delivering a paltry $308,000 in third quarter revenues against a staggering $308.86 million net loss. Hence, this serves as a cautionary tale for investors, highlighting the need for prudent judgment and exploring more viable, profitable alternatives in the EV sector.</p><h2 id=\"id_2300659708\">BlackBerry (BB)</h2><p>Once a titan in the smartphone arena, <strong>BlackBerry</strong> (NYSE: <strong>BB</strong>) now finds itself as a shadow of its former glory. It’s now evolved into a technology eclipsed by more innovative players and repurposed into a niche player focused on cybersecurity services and the IoT.</p><p>The latest bad news to hit embattled tech firm BlackBerry is that its long-time CEO, John Chen, has just left the company. Chen officially sent his departing message to employees, indicating that his retirement was not voluntary. In a letter to BlackBerry employees on the company’s website, Chen said he was sad to be retiring “with little notice.”</p><p>Chen was appointed to BlackBerry in November 2013 with a mandate to transition the company from a smartphone maker into a cybersecurity software firm. Moreover, he has also announced splitting BlackBerry into two businesses, a cybersecurity firm, and a separate IoT business, planning to hold an initial public offering (<strong>IPO</strong>) in mid-2024. The company reported a quarterly loss of $42 million from a financial standpoint. BB stock has declined 15.6% in the last 12 months and is down 57% over five years.</p><h2 id=\"id_1377068970\">Peloton Interactive (PTON)</h2><p><strong>Peloton Interactive</strong> (NASDAQ: <strong>PTON</strong>), once a high-flying name in the fitness realm, now grapples with a stark reality far from its past glory. The stock, which shot up to dizzying heights three years ago, has plummeted, leaving investors wary. Peloton’s contribution to public health, fostering a fitness craze, is its lone beacon in a rather murky financial landscape. Yet, the company’s strategic approach raises eyebrows, with major investments aimed more at inflating product prices and expanding class offerings than sustainable growth.</p><p>The narrative of Peloton’s rise and fall is almost emblematic of pandemic trends. Its boom during the lockdowns turned out to be meteoric, but as normalcy returns, the company is in a tailspin. The latest financial figures paint a relatively grim picture: a $159.3 million loss in the first quarter of fiscal year 2024 and a worrying 3% revenue drop to $595.5 million. This decline, sharpening by 7% from the fourth quarter of fiscal year 2023, underscores Peloton’s ongoing struggles. Amidst such financial turbulence, Peloton’s story is a cautionary tale in the volatile world of tech-driven fitness.</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>7 Sorry Meme Stocks to Sell in December</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\">\n7 Sorry Meme Stocks to Sell in December\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-04 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/12/7-sorry-meme-stocks-to-sell-in-december/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In the unpredictable terrain of the stock market, meme stocks to avoid have become a critical watchlist for investors. The social media-driven phenomenon has effectively turned stocks you’d typically ...</p>\n\n<a href=\"https://investorplace.com/2023/12/7-sorry-meme-stocks-to-sell-in-december/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","TUP":"特百惠","BK4581":"高盛持仓","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","BK4099":"汽车制造商","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","GME":"游戏驿站","MULN":"Mullen Automotive","BK4190":"消闲用品","BK4528":"SaaS概念","BK4592":"伊斯兰概念","BK4551":"寇图资本持仓","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","PTON":"Peloton Interactive, Inc.","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4214":"汽车零售","BK4585":"ETF&股票定投概念","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0072462426.USD":"贝莱德全球配置 A2","BK4576":"AR","BK4525":"远程办公概念","LU0056508442.USD":"贝莱德世界科技基金A2","BK4587":"ChatGPT概念","LU0080751232.USD":"富达环球多元动力基金A","BK4577":"网络游戏","BK4527":"明星科技股","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","CVNA":"Carvana Co.","BK4579":"人工智能","BK4588":"碎股","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","BK4503":"景林资产持仓","BK4076":"电脑与电子产品零售","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BB":"黑莓"},"source_url":"https://investorplace.com/2023/12/7-sorry-meme-stocks-to-sell-in-december/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2388258812","content_text":"In the unpredictable terrain of the stock market, meme stocks to avoid have become a critical watchlist for investors. The social media-driven phenomenon has effectively turned stocks you’d typically avoid into viral sensations, leading to temporary price surges as communities rally to boost their value. While this could potentially lead to short-term gains, the underlying risks remain substantial. Fueled by hype more than fundamentals, these meme stocks can be dangerous bets.Moreover, the fervor of online communities, often backed by thorough research, doesn’t usually equate to stability in these stocks. The flip side of this coin is stark, with significant financial losses for those caught in the hype without caution. Therefore, it’s prudent to be wary of these meme stocks to avoid, as their potential downfall usually overshadows their fleeting glory.Meme Stocks To Avoid: Tupperware (TUP)Once a darling of the meme stock era, Tupperware (NYSE: TUP) effectively serves as a cautionary tale in the stock market. The American multinational, known for its kitchen and home products, has lost its sheen, and recent woes amplify its troubles, including the failure to file its SEC Form 10Q quarterly report. This delay, attributed to significant employee attrition in critical accounting roles, signals deeper operational problems. Moreover, the departure of PwC as the company’s public accounting firm adds to the uncertainty. While there’s no dispute between Tupperware and PwC, the latter’s refusal to audit the fiscal year 2023 continues to raise eyebrows.Furthermore, while not adverse, PwC’s previous reports flagged substantial doubts about Tupperware’s ongoing viability. This backdrop of strained resources and lost continuity in expertise casts a shadow over Tupperware’s future. In this light, Tupperware resembles less a promising investment and more a relic, struggling to regain its former glory amidst many challenges.Carvana (CVNA)Carvana (NYSE: CVNA), with its innovative digital platform and unique car vending machines, was once touted as a disruptor in the used car industry. However, recent developments cast a shadow over its potential. The company’s latest earnings report confirms a continuing trend of substantial losses, coupled with a warning of decline as the auto market cools down.Furthermore, its reliance on technology to elevate prices could be a to capture fleeting gains. Still, this strategy seems increasingly untenable in the long run without a clear path to profitability. The optimistic tone from investor relations starkly contrasts with the reality of ongoing financial losses, painting a grim picture for investors. This continual drain on resources, without a foreseeable turnaround plan in place, makes Carvana a less-than-desirable option for those looking to invest in the automotive sector.Meme Stocks to Avoid: GameStop (GME)The meme stock frenzy of 2021, with GameStop (NYSE: GME) at the center seems to have faded into financial history. Nevertheless, the reality around the truth is stark and is of a  retailer grappling with obsolescence, its physical business model eclipsed by digital gaming platforms like Steam and Microsoft (NASDAQ: MSFT). The company’s balance sheet fails to impress, further dimming its prospects.The investment thesis for GME stock now hinges on a miraculous turnaround strategy from CEO Ryan Cohen. However, as another holiday season approaches, GameStop is expected to mirror the struggles typical of its recent past marked by poor comparable sales, store closures, and warning signs amplified by a weakening economy and fluctuating gaming industry trends. These factors position GME stock as a likely disappointment for 2024, making it a candidate for investors to discard from your portfolios.WeWork (WE)WeWork (OTCMKTS: WEWKQ), once a commercial real estate sector titan, is now teetering on the brink of collapse. The firm, known for its ambitious expansion, has incurred billions in operating losses in its pursuit of growth. However, the advent of the pandemic drastically reduced demand, leaving the company in a precarious position to recoup its massive investments in leases. From a valuation north of $40 billion at its peak, WeWork’s trajectory nosedived following a botched IPO in 2019 and the pandemic’s shift to remote work, culminating in Chapter 11 proceedings.As of November 7, the company faced approximately $4.2 billion in funded debt obligations. Its restructuring agreement, aimed at reducing this debt by about $3 billion, involves rejecting more than 60 unnecessary leases. This move is a strategic attempt to slash high fixed operational costs at underperforming locations, allowing the company to focus on more profitable sites.Meme Stocks to Avoid: Mullen Automotive (MULN)Mullen Automotive (NASDAQ: MULN), once a promising entrant in the EV sector, now epitomizes the challenges of materializing potential in this competitive sphere. Furthermore, with its latest move, shareholders are gearing up for a crucial Dec. 15 vote on CEO David Michery’s proposal for a third reverse stock split this year, a strategy to maintain Nasdaq listing standards. However, this tactic will only lead to another price decline,  underscoring the company’s precarious state.Furthermore, its financials are telling, delivering a paltry $308,000 in third quarter revenues against a staggering $308.86 million net loss. Hence, this serves as a cautionary tale for investors, highlighting the need for prudent judgment and exploring more viable, profitable alternatives in the EV sector.BlackBerry (BB)Once a titan in the smartphone arena, BlackBerry (NYSE: BB) now finds itself as a shadow of its former glory. It’s now evolved into a technology eclipsed by more innovative players and repurposed into a niche player focused on cybersecurity services and the IoT.The latest bad news to hit embattled tech firm BlackBerry is that its long-time CEO, John Chen, has just left the company. Chen officially sent his departing message to employees, indicating that his retirement was not voluntary. In a letter to BlackBerry employees on the company’s website, Chen said he was sad to be retiring “with little notice.”Chen was appointed to BlackBerry in November 2013 with a mandate to transition the company from a smartphone maker into a cybersecurity software firm. Moreover, he has also announced splitting BlackBerry into two businesses, a cybersecurity firm, and a separate IoT business, planning to hold an initial public offering (IPO) in mid-2024. The company reported a quarterly loss of $42 million from a financial standpoint. BB stock has declined 15.6% in the last 12 months and is down 57% over five years.Peloton Interactive (PTON)Peloton Interactive (NASDAQ: PTON), once a high-flying name in the fitness realm, now grapples with a stark reality far from its past glory. The stock, which shot up to dizzying heights three years ago, has plummeted, leaving investors wary. Peloton’s contribution to public health, fostering a fitness craze, is its lone beacon in a rather murky financial landscape. Yet, the company’s strategic approach raises eyebrows, with major investments aimed more at inflating product prices and expanding class offerings than sustainable growth.The narrative of Peloton’s rise and fall is almost emblematic of pandemic trends. Its boom during the lockdowns turned out to be meteoric, but as normalcy returns, the company is in a tailspin. The latest financial figures paint a relatively grim picture: a $159.3 million loss in the first quarter of fiscal year 2024 and a worrying 3% revenue drop to $595.5 million. This decline, sharpening by 7% from the fourth quarter of fiscal year 2023, underscores Peloton’s ongoing struggles. Amidst such financial turbulence, Peloton’s story is a cautionary tale in the volatile world of tech-driven fitness.","news_type":1},"isVote":1,"tweetType":1,"viewCount":170,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":23,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}