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Meme stocks typically gain popularity through social media platform discussions and retail investors’ interest rather than on macroeconomic factors. However, the price rises are generally unsustainable due to the stocks’ weak fundamentals. The 25 most popular meme stocks are down 24% in price over the last month, which has caused the loss of about $44.50 billion by speculative investors..
With the newly identified omicron variant driving stock market volatility, meme stocks Tesla, Inc. (TSLA), AMC Entertainment Holdings, Inc. (AMC), and GameStop Corp . (NYSE:GME) are best avoided now. Wall Street analysts expect these stocks to continue to retreat in the near term.
