Six hot meme stocks to explore

Summary

• Palantir Technologies Inc. (NYSE:PLTR) reported revenue of US$341 million in Q1, 2021, up 49% YoY.
• Canoo Inc. (Nasdaq:GOEV) has a market capitalization of US$2.1 billion.
• Clean Energy Fuels Corp (Nasdaq:CLNE) posted a net loss of US$7.2 million or US$0.04 per share in Q1, 2021.

Meme stocks are stocks that rise due to publicity on social media like Reddit or Twitter. Generally, there are no clear signals to support the price rise like company announcements or earnings reports, etc. These stocks are often volatile, and their prices typically drop soon after the hype disappears.

The buzz over certain stocks on social media sites drives many investors to buy the stock, which pushes the stock prices up. We explore here six meme stocks in the market.

Source: Pixabay.

Also read: How does a meme stock work?

Palantir Technologies Inc (NYSE:PLTR)

Software company Palantir Technologies specializes in big data analytics. The company’s stock traded at US$23.26 at 8.47 am ET on July 12, down 0.09 percent over the previous day's closing price. Its stock prices decreased by 0.04 percent YTD.

The market capitalization of PLTR is US$43.7 billion, and its forward P/E 1 year is 291.3. The beta ratio is 8.7. PLTR’s 52-week highest stock price is US$45, and the lowest is US$8.90. 22,492,370 is the share volume.

PLTR reported total revenue of US$341 million in Q1, 2021 ended on March 31, up by 49 percent YoY. Its US commercial revenue grew by 72 percent YoY and US government revenue rose by 83 percent YoY. Operations provided a cash flow of US$117 million, up by 404 percent YoY. It recorded a net loss of US$123,474.

Canoo Inc. (Nasdaq:GOEV)

Canoo Inc. designs and manufactures electric vehicles. The company’s stock traded at US$9.06 at 9.08 am ET on July 12, up 0.55 percent over the previous day's closing price. Its stock prices decreased by 27.36 percent YTD.

The market capitalization of GOEV is US$2.1 billion. And its forward P/E 1 year is -4.84, and the beta ratio is -3.12. GOEV’s 52-week highest stock price is US$24.90, and the lowest is US$6.51. Its share volume is 1,029,895.

Also read: Top six utility stocks to explore in July

Source: Pixabay.

GOEV reported a net loss of US$15.2 million in Q1, 2021, which ended on March 31. It was US$30.9 million YoY. Adjusted EBITDA was US$49.8 million in Q1, 2021, and that was US$23 million in Q1, 2020. The company had US$641.9 million as cash and cash equivalents in the latest quarter.

Chewy, Inc. (NYSE: CHWY)

Chewy, Inc. supplies pet food, pets, pet toys, pet treatment through online orders.

The company’s stock traded at US$86 at 9.19 am ET on July 12, up by 0.50 percent over the previous day's closing price. Its stock price decreased by 3.26 percent YTD.

Also read: Which are the top communication stocks on NYSE, NASDAQ?

The market capitalization of CHWY is US$35.5 billion. 855.70 is forward P/E 1 year. 0.08 is the beta ratio. CHWY’s 52-week highest stock price is US$120, and the lowest is US$45.25. 3,884,118 is the share volume. Earnings per share (EPS) are US$-0.02.

The company reported net sales of US$2.14 billion in Q1, 2021, which ended on May 2. It is up by 31.7 percent YoY. Its net income was US$38.7 million in this quarter. Adjusted EBITDA was US$77.4 million, up by US$73.9 million YoY.

Clean Energy Fuels Corp (Nasdaq:CLNE)

Clean Energy Fuels Corp supplies renewable clean energy like renewable natural gas.

The company’s stock traded at US$9.11 at 9.31 am ET on July 12, down by 0.71 percent over the previous day's closing price. Its stock prices increased by 16.42 percent YTD.

The market capitalization of CLNE is US$1.9 billion. -53.88 is forward P/E 1 year. 1.86 is the beta ratio. CLNE’s 52 weeks highest stock price is US$19.79, and the lowest is US$2.33. 5,795,576 is the share volume. Earnings per share (EPS) are US$-0.09.

CLNE reported total revenue of US$77.1 million in Q1, 2021, down from 10.3 percent YoY. The company reported a loss of US$7.2 million or US$0.04 per share.

Also read: What are top 10 Altcoins to explore in 2021?

Hims & Hers Health, Inc (NYSE:HIMS)

Hims & Hers Health, Inc sells over-the-counter drugs, prescriptions, and personal care products online.

The company’s stock traded at US$10.535 at 9.46 am ET on July 12, up by 4.45 percent over the previous day's closing price. Its stock prices decreased by 32.81 percent YTD.

The market capitalization of HIMS is US$1.9 billion, forward P/E 1 year is -17.43, and the beta ratio is -0.12. HIMS’s 52-week highest stock price is US$25.40, and the lowest is US$8.09. Its share volume is 1,016,519.

HIMS reported total revenue of US$52.3 million in Q1, 2021, which ended on March 31, up by 74 percent from US$30.1 million YoY. Net loss was US$51.4 million in Q1, 2021, compared to US$6 million YoY. The gross margin was US$77% in this quarter, and that was 69% in Q1, 2020. Adjusted EBITDA was US$8.6 million as compared to US4.6 million YoY.

BioCryst Pharmaceuticals, Inc (Nasdaq:BCRX)

BioCryst Pharmaceuticals, Inc discovers novel, small-molecule, and oral medicines to treat rare diseases.

The company’s stock traded at US$16.35 at 9.58 am ET on July 12, down by 0.06 percent over the previous day's closing price. Its stock prices increased by 121.69 percent YTD.

The market capitalization of BCRX is US$2.9 billion, forward P/E 1 year is -14.87, and the beta ratio is2.61. BCRX’s 52-week highest stock price is US$17.73, and the lowest is US$3.30. The share volume is 169,013. Earnings per share (EPS) is US$-1.20.

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BCRX reported revenue of US$19.1 million in Q1, 2021, which ended on March 31. It was US$4.8 million in Q1, 2020. The company reported a net loss of US$64.3 million or US$0.36 per share as compared to US$37.6 million or US$0.24 per share YoY. It had US$244.4 million of cash and cash equivalents in Q1, 2021. Operating cash use for Q1, 2021 was US$60 million.

Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.