In the dynamic world of stock investments, where trends can change at the blink of an eye, 7 best meme stocks have emerged as a captivating and often unpredictable phenomenon. These 7 best meme stocks, known for their volatility and sudden surges in popularity driven by online communities, have been a source of fascination and intrigue for investors. we delve into the realm of meme stocks to identify the top contenders that could offer unique investment opportunities.
From renewable energy pioneers to biotech innovators and tech giants, these 7 best meme stocks have captured the attention of both seasoned and novice investors. In this article, we present a curated list of the 7 best meme stocks to consider for your investment portfolio. Each of these 7 best meme stocks has its own compelling narrative, potential for growth, and a place in the evolving landscape of 7 best meme stock investments. Let’s explore these 7 best meme stocks that are making waves and could redefine your investment strategy in the ever-evolving financial markets.
7 best Meme Stocks
American Superconductor (AMSC): A Promising Meme Stock in the Renewable Energy Space
In the world of meme stocks, American Superconductor (NASDAQ: AMSC) stands out as a stock with real substance. While it may have experienced a rapid surge during a meme-driven rally in late July and early August, AMSC has since retraced its steps from the peak of $17.37 per share to a more reasonable $7.75 per share. This correction could mark an opportunity for long-term investors, driven by the growing demand for electricity in a post-carbon world.
The future for American Superconductor looks bright, with trends such as the widespread adoption of electric vehicles and the push for decarbonization in electricity production. As these trends gain momentum, American Superconductor’ s products are likely to see increased sales. Once the company reaches profitability, there’s potential for AMSC stock to surpass its previous meme-induced highs and reach even greater price levels.
Blackberry (BB): A Former Meme King with New Growth Catalysts
Blackberry (NYSE: BB), once a prominent name among meme stocks, has made a comeback on investors’ radar. While it may not be a top meme stock anymore, recent takeover rumors and other growth catalysts make BB stock worth a second look.
During 2021, Blackberry gained popularity within the meme community, and although it’s returned to pre-meme levels, the company has promising developments in the pipeline. For instance, Blackberry has signed a deal to provide software for electric vehicles produced by Foxconn’s EV consortium. Additionally, a new product launch holds the potential to drive growth. While meme mania may not fully return for BB shares, improving fundamentals could lead to a resurgence in its stock price.
Lithium Americas (LAC): The Unexpected Meme Stock in the Lithium Industry
When thinking of meme stocks, Lithium Americas (NYSE: LAC) might not be the first name that comes to mind. However, this lithium company recently garnered attention due to a surge in speculation.
The catalyst behind LAC’s recent popularity is the news of a potentially massive lithium deposit discovery. Within the McDermitt Caldera, estimates suggest there could be 20 million to 40 million metric tons of lithium. While there are challenges associated with extracting this lithium economically, it underscores the significant potential of LAC’s mining projects.
As LAC progresses in commercializing projects like Thacker Pass and with the continued rise in lithium demand, the company is well-positioned to become profitable in the coming years.
Moderna (MRNA): A Biotech Meme Stock Amidst Emerging Variants
With the emergence of new Covid variants, Moderna (NASDAQ: MRNA) has the potential to regain its status as one of the best meme stocks. Although the newest variant has garnered less concern than previous ones, nearly half the population remains cautious. As colder months approach, this biotech firm could experience increased sales of Covid vaccine boosters, which could positively impact MRNA stock.
Looking ahead, Moderna could leverage its success during the Covid era, coupled with a substantial cash reserve of $8.5 billion, to develop non-Covid mRNA vaccines. While this may not return MRNA to its previous highs of over $400 per share, even a partial recovery would yield significant gains compared to current prices.
Cassava Sciences (SAVA): A Healthcare Stock Defying Skepticism
Cassava Sciences (NASDAQ: SAVA) is a healthcare stock that has faced fluctuations in popularity among retail traders. The key drug in its pipeline, Simulfilam for Alzheimer’s treatment, initially garnered significant attention. However, allegations of data manipulation led to a prolonged selloff, with the stock plummeting from around $120 per share in August 2021 to just under $20 per share today.
Despite its fall from favor and substantial short interest, Cassava Sciences continues to release promising data about Simulfilam. Insider buying suggests confidence in the drug’s regulatory approval process. This clinical-stage biotech might still have what it takes to prove skeptics wrong.
Smith Micro Computer (SMCI): Riding the Generative AI Wave
While “AI mania” may have peaked, Smith Micro Computer (NASDAQ: SMCI) remains a compelling meme stock. The rapid adoption of generative AI has been a boon for this high-performance server and storage solutions manufacturer. As a result, SMCI stock has seen remarkable growth year-to-date, with shares more than tripling since January.
Although the stock has plateaued recently, Smith Micro Computer has strong secular growth trends on its side. Forecasts predict annual earnings per share to reach $21.41 by the fiscal year ending June 2025, indicating potential for substantial earnings growth.
SoFi Technologies (SOFI): A Fintech Meme Stock with Long-Term Potential
SoFi Technologies (NASDAQ: SOFI) is a former meme favorite that continues to be one of the best meme stocks to invest in. Its appeal lies in long-term growth prospects in the fintech and neobank sector. While much attention has been on SoFi‘s student loan refinancing business, it has the potential to become a major financial institution across various domains, including IPO underwriting.
SOFI has experienced significant growth this year, doubling in price since January. As shares have pulled back in recent weeks, it may be an opportune time to start building a position in this promising fintech meme stock.