For a while now, the meme stock mania has been attracting many penny stock investors across the country. Now, Wall Street i Thanks to the hype of the internet & the massive community, a lot of meme stock investors have made a fortune as prices continue to jump dramatically for certain meme stocks & coins.
We did some research and today, we’re bringing you 3 of the most talked about meme stocks of the week: Blue Apron (NYSE: APRN), Bed Bath & Beyond Inc. (NASDAQ:BBBY) & AMC. Despite the fact that these stocks have cooled down from their massive run-ups, they remain on investors’ radar as potentially lucrative short squeeze candidates. Given that they’re now trading at a dip, we’re watching them closely & we’re sending out alerts with the BEST entry points!!
Meme Stock #1: APRN
As a carbon-neutral meal-kit company and is focused on bringing incredible recipes to its customers, Blue Apron (NASDAQ: APRN) recently saw a 39% increase in its PPS as grocery prices continue to skyrocket. With a mission to enhance people’s lives through promoting planetary and dietary wellness is focused on providing fresh, chef-designed recipes.
Aside from the overall heated market, the catalyst that really sent the meal kit company higher was a rally that appears to have sent short sellers running for cover. Given the battleground nature of this stock and the company’s high short interest, an increasing number of investors believe this stock could be a potential short squeeze candidate.
On a different note, the company’s growth efforts are clear. As of August 30th, APRN announced that it has amended the terms of its $30 million of Senior Secured Notes due in 2027.
These amendments will provide the company with the optionality to use cash up to $25 million for potential future share repurchases – subject to certain conditions – including the closing of $50 million equity financing that APRN expects this week.
APRN’s CFO – Randy Greben believes “these new amendments will help further enhance the terms of the company’s debt and give us greater optionality to deploy cash as they align with APRN’s strategic initiatives to strengthen its balance sheet as we execute “The Next Course’ strategy”.
The Next Course plan, which outlines a path to profitability, is centered around 3 key objectives to drive growth over the next 3 years – including curated customer experiences, a scalable platform and sustainable profit.
Right now, the company’s focused on becoming consumers’ first choice for consumers in seeking out curated food experiences that meet the needs of their household and lifestyle. They aim to achieve that through targeted marketing spend, product innovation and targeting new revenue streams through partnerships. Through these initiatives, the company is ensuring a path to profitability all the while delivering value to investors.
Currently trading at $5.03, APRN has near support at 4.93. The stock shows a strong resistance at 5.78 and 6.04. Accumulation is witnessing a steep decline as investors cash out for profits. With this in mind, the RSI is at 38 – indicating the stock is slightly oversold. Despite the fact the MACD is now bearish, it seems poised for a crossover soon.
Following its run-up, APRN is on investors’ radar as it continues to dominate Fintel’s short squeeze candidate list. Now that the stock is trading at a dip, it could be just the perfect entry point!! Want in on this promising dip at this AMAZING price? Get alerts straight to your inbox & we’ll make sure you secure a position & make bank on APRN!!
Meme Stock #2: BBBY
Bed, Bath & Beyond (NASDAQ: BBBY) – a company that sells a wide assortment of merchandise in the Home, Baby, Beauty and Wellness markets – is another meme stock stirring talks among investors recently. Aside from its high short interest, many investors are on the lookout as suspicions of the company facing problems continue to surface.
The main concern is that BBBY has struggled in its performance lately reporting a 26% decline in same-stores sales in the most recent quarter. However, the company has assured investors of its dedication to raise cash and strengthen its balance sheet as quickly as possible.
Delivering on these promises, BBBY just announced it has secured over $500 million of new financing – including its newly expanded $1.13 billion asset-backed revolving credit facility and a new $375 million “first-in-last-out” facility.
The company intends to use this new financing utilized to support immediate strategic priorities to drive traffic and sales and gain back customer relevance, including rebalancing the assortment and inventory position.
BBBY shares jumped another 21% in early trading on Wednesday and are now up a whopping 400.5% in the past month – applying extreme pressure to short sellers.
Currently trading at a dip of $8.6, BBBY is near its support of 8.34. The stock shows a resistance of 12.18 and another at 18.62. Accumulation is steady following a recent uptick on the 16th and the MACD is bearish but seems poised for another crossover soon. However, the RSI is at 32 – indicating the stock is extremely oversold as an increasing number of investors cash out for profits.
BOTTOM LINE
As the meme stock mania remains, investors are on the lookout for meme stocks to trade & make some money. Now that they’re trading at a dip, investors have made BANK on these plays. The meme stocks in this article are just two of MANY lucrative meme stocks we’re watching. Wanna get alerts on the best meme stocks to trade? Sign up for free NOW!
As always, good luck to all (except the shorts)!
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Disclosure: We have no business relationship with any company whose stock is mentioned in this article. Viral Stocks is not an investment advisor and this article does not provide investment advice. Always do your own research, make your own investment decisions, or consult with your nearest financial advisor. This article is not a solicitation or recommendation to buy, sell, or hold securities. This article is our opinion and is meant for informational and educational purposes only and does not provide investment advice. Past performance is not indicative of future performance.
