Which are the popular meme stocks in the US market?

Meme stocks are those that retail investors excessively trade following the hype on social media platforms.

The meme stock price gets quickly overheated after becoming viral on social media platforms like Reddit, StockTwits and Twitter. However, this rally powered by social media frenzy is not linked to the companies' fundamentals.

Here, we explore a few meme stocks that were pushed to the moon recently.

Here, we explore a few meme stocks that were recently pushed to the moon.

READ MORE: How does a meme stock work?

GameStop Corp (NYSE:GME)

This Texas-based struggling video game company saw its stock price hit the roof unexpectedly this year following the meme-stock saga fueled by retail investors in Reddit chat room WallStreetBets.

In January, GameStop’s shares hit their 52-week high of US$483. The stock skyrocketed 1625 percent during the month. GameStop currently has a market capitalization of US$15.1 billion. The stock gained 963 percent year to date.

READ MORE: Buying frenzy cools off; is there any steam left in GameStop short squeeze?

In its first quarter ended May 1, GameStop reported net sales of US$1.27 billion and a net loss of US$66.8 million. Recently, GameStop named Amazon executives Matt Furlong and Mike Recupero as its new CEO and CFO, respectively, as part of its turnaround plan.

On June 22, the company said it raised US$1.13 billion it latest share offering by selling five million shares. In April, GameStop raised US$551 million by selling 3.5 million shares.

AMC Entertainment Holdings Inc (NYSE:AMC)

The Kansas City-based movie theatre chain has also witnessed its share shoot up amid the rally fueled by bullish retail investors on Reddit.

READ MORE: New ‘meme stock’? AMC Entertainment’s shares surge

AMC’s current market valuation totals US$29.4 billion on NYSE. The stock jumped 455 percent since May and rallied to its 52-week high of US$72.62 in the first week of June. The share price is up 2526 percent year to date.

AMC raised US$587.4 million as it completed an 11.55 million share offering. The company raised a total of US$1.25 billion during the second quarter.

AMC had reported an 84.3 percent year-over-year decline in its March quarter revenue to US$148.3 million.

Source: Pixabay

BlackBerry Limited (NYSE:BB)

The Ontario-based company provides security software and services. Blackberry’s stock doubled in January following a short squeeze and marked its record high of US$28.77 during the month.

The company currently has US$7.5 billion in market capitalization. Its share price gained 93 percent year to date. Blackberry was once gained back on retail investor’s radar at the end of May. Its share price has surged around 50 percent in the last one-month period.

During the fiscal year ended February 28, the company saw its revenue decline to US$893million from US$1.04 billion, while its net loss swelled to US$1.10 billion.

READ MORE: AMC, GameStop, other meme stocks delivered multibagger returns in 2021

Torchlight Energy Resources, Inc. (NASDAQ:TRCH)

Torchlight’s stock jumped over 65 percent on June 21 after it became trending on the social media platform StockTwits.

The oil and gas company has US$1.37 in market value. In the 52-week period, the share price rallied from 21 cents to US$10.88. The stock rose 1317 percent year to date.

The Texas-based company is currently in the process of merging with Canada-based functional materials and nanocomposite products maker Metamaterial. On June 21, the companies agreed to extend the merger completion date to June 30.

After the combination, Metamaterial shareholders will have the majority stake in the combined company that will operate under a new name. Also, the new company will align its operations with Metamaterial’s business.

READ MORE: Why Torchlight Energy (TRCH) stock jumped 65 percent?

Clean Energy Fuels Corp. (NASDAQ:CLNE)

Clean Energy provides natural gas to fuels in the US and operates 570 stations in North America.

Clean Energy is valued at US$2.4 billion on NASDAQ. Its shares traded between US$2.01 and US$19.79 in 52 weeks. The stock gained 42 percent this month and grew 43 percent year to date. The company’s stock joined the meme stocks following interest from retail investors on Reddit’s WallStreetBets.

In its first quarter, the company reported revenue of US$77.1 million and a net loss of US$7.2 million. It delivered 92.4 million gallons of fuel, down 7 percent year over year. Clean Energy expects to post a net loss of around US$76 million in 2021.

The GEO Group, Inc. (NYSE:GEO)

The real estate investment trust company operates private prisons. It owns/manages 116 in-custody rehabilitation facilities globally and also provides post-release support.

The Florida-based company currently has a market capitalization of US$909 million. Earlier in June, retail investors push its share price higher over 72 percent. The stock is up 50 percent this month, while it is down 11 percent year to date. During the 52 weeks period, the share traded in the range of US$4.96 and US$12.34.

GEO Group had a net income of US$50.5 million in its first quarter. However, the company suspended its quarterly dividends in April as it plans to use cash flows to reduce debt.

READ MORE: 2 Trending Stocks In Meme Stock Frenzy: Clean Energy, GEO Group

Source: Pixabay

Clover Health Investments, Corp. (NASDAQ:CLOV)

The Tennessee-based healthcare technology company started trading on NASDAQ in January after it merged with a SPAC.

The company currently has US$5.1 billion in market value. On June 8, Clover Health stock more than doubled its value after retail investors were bullish on the WallStreetBets forum. The share price gained 47 percent this month.

In its first quarter, Clover Health reported US$200.3 million and an adjusted EBITDA loss of US$52.1 million. The company projects its full-year revenue to come in between US$810 million and US$830 million, while Adjusted EBITDA loss is expected in the range of US$240 million to US$190 million.

The Wendy’s Company (NASDAQ:WEN)

Wendy’s is a popular restaurant chain known for its hamburgers and Frosty dessert. It operates through over 6,700 restaurants globally.

The company has US$5.1 billion in market cap. Its stock joined the meme stock frenzy earlier in June month, becoming the first fast-food meme stock. Wendy’s stock is up approximately 7 percent year to date. The shares have a 52-week range of US$18.86 to US$29.46.

Wendy’s posted total revenues of US$460.2 million in its first quarter and adjusted EPS of 20 cents. Its global system-wide sales rose 12.5 percent in the three months.

The company expects global system-wide sales during the year to increase up to 10 percent. Adjusted EPS is anticipated between 72 cents and 74 cents.

READ MORE: Trending Stocks: Clover Health, Wendy’s, Lordstown Motors