There Is No More Bed Bath and Beyond Stock. Who Will Become the Next Meme Stock?
After purchasing the insolvent home goods business, Overstock.com, an online discount retailer, is now known as Bed Bath and Beyond Stock. However, don’t anticipate receiving large blue coupons in the mail or the reopening of physical establishments.
- After struggling for several months, the struggling meme stock has finally been extinguished; also, Bed Bath and Beyond Stock previous stock has finally disappeared and is not returning.
- Retail investors should take note of its story since any of its peers could be the next to go down.
Retail investors had a bad day on September 30, 2023. An institution among the Wall Street Bets crowd for a long time, Bed Bath and Beyond Stock, stopped trading. The home furnishings firm started trading on an over-the-counter (OTC) exchange after being delisted from the Nasdaq and filing for bankruptcy in April 2023. That’s frequently the first nail in a business’s coffin, and Bed Bath and Beyond Stock’s situation was no exception. Barbecue stock is now gone. Anyone left with an empty bag if they didn’t sell before that memorable day. Investor Place assistant news writer Shrey Dua revealed that investors will not receive any compensation in the company’s bankruptcy plan.
It isn’t always profitable to hold meme stocks for too long.
Even those who are more risk-averse can learn a valuable lesson from the Bed Bath and Beyond Stock catastrophe. A meme stock will always decline, regardless of how much retail interest it receives. It is challenging for many businesses to recapture the kind of velocity they formerly had when a short pinch ends. Regardless of how hard retail investors push, the majority of meme stocks are beset by dubious fundamentals and subpar management. Wall Street has placed bets against it precisely because of this. Words like “delist” and “bankruptcy” are frequently connected to these unsteady businesses for a cause. Bed Bath and Beyond Stock is no more, despite recent conspiracies to the contrary.
But this raises a crucial query: Which meme stock will be the next to go bust, burn out, or vanish?
The Next Bed Bath & Beyond Stock
A lot of businesses might go down the rabbit hole of insolvency and delisting after Bed Bath and Beyond Stock. However, the following five names are particularly likely to become BBBYQ.
- AMC Entertainment: AMC (NYSE) Retail investors consistently choose this theater firm. However, despite all of the attention, AMC’s stock is unable to rise. Not even the announcement of collaborations with Beyoncé and Taylor Swift has increased share value. More significantly, “AMC was barely profitable even prior to the pandemic,” according to Ian Bezek, a writer to InvestorPlace. Its future prospects haven’t improved since then and are still very bad.
- Meta Materials (NASDAQ: MMAT): Investors ought to proceed with utmost caution when dealing with a firm that is embroiled in this level of controversy. The market suspension that resulted from this functional materials firm spinning off its preferred shares in December 2022 is what made it most famous. It has only dropped since then, down by more than 80% year to date (YTD). The business is now working to get back into compliance with Nasdaq. Its recent extension won’t likely be enough to stop the inevitable, though.
- Mullen Automotive (NASDAQ: MULN): In just the last two quarters, this manufacturer of electric vehicles (EVs) has seen a decline of more than 98%. Despite the fact that it should, its highly motivated investment base doesn’t seem to care about that. Furthermore, MULN has not done well despite the EV market’s rise. Furthermore, there are many better options for investors looking for exposure, as noted by Chris MacDonald, a contributor to InvestorPlace. Furthermore, the possibility of being removed from the Nasdaq market remains a persistent danger.
- Nikolala (NKLA; NASDAQ) Investors should be wary of not investing in Mullen or any other EV penny stock. Nearly as concerning is Nikola’s record, which includes the former CEO and founder being imprisoned for fraud. Since then, there has been no recovery in the price, and the company has disclosed extremely concerning fundamentals, such as a declining cash balance. The fact that NKLA stock trades at a higher level than MULN is not particularly significant.
- Peloton Interactive (PTON; NASDAQ): It is difficult to believe that Peloton was a pandemic-era winner given the stock’s performance. The inventor in at-home fitness saw a meteoric rise to prominence during the 2020 lockdowns, but it hasn’t been able to adjust since. At the moment, it trades just over penny stock level. That is an extremely concerning trajectory, considering that it previously hit $167 a share. Furthermore, Peloton’s financials suggest that worse times may be ahead, and the company has done nothing to inspire confidence in investors about a turnaround.
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