What Meme Stocks Should I Buy?

Meme stocks are definitely risky stock picks, but some of the companies caught up in the craze may actually be good investments soon.

If you’re a long-term investor you might be getting fed up with Wall Street being taken over by the meme stock craze. Although some people make a quick buck from meme stocks, they are the antithesis of long-term investing! 

What Is A ‘Meme Stock’?

The logic pushing these stocks higher goes against everything we’ve been taught about successful investing. With that being said, some of the stocks that retail investors are buying could potentially be worthy investments in the future, once their prices come down.

What is a short-squeeze? 


The company is known as the ‘King of Meme Stocks’ because it really was the first of its kind. However, the video game retailer is actually making good progress on improving its financial fundamentals. GameStop (NYSE: GME) reported earnings on Wednesday, and many investors were impressed. The main takeaways included:

  • GameStop’s loss narrowed to $66.8 million from a loss of $165.7 million in the same period a year earlier.
  • Most importantly, GameStop is selling more games and merchandise with revenue rising to $1.28 billion, up from $1.02 billion.
  • The firm has a new CEO, ex-Amazon executive Matt Furlong, who should be able to help GameStop compete in the e-commerce space. 

If the company is successful in growing its digital shopping business and revenue, this stock might be one to watch. 

GameStop shares are up an eye-popping 1,653% year-to-date but the short-squeeze might not be over yet. Nevertheless, GameStop’s share price is currently wildly out of line with its fundamentals.

Is GameStop Actually A Good Long-Term Investment?


Blackberry (NYSE: BB) was nearly a forgotten company that failed to remain the go-to mobile manufacturer when Apple and Samsung took over the space. As a result, the company had a high level of short interest in it (meaning short-sellers were betting against that the stock would fall) which attracted investors using Reddit to buy the stock so these sellers would lose money. 

What Is Short Selling?

The Canadian-based company reacted well to losing market share in the mobile manufacturing space by changing its business model to building enterprise software. This means the company could have further potential in the near future. 

Blackberry has also announced a new exciting partnership with Amazon Web Services which resulted in the launch of its BlackBerry IVY, an automobile software that may revolutionize the space. Some experts even predict that the tech firm could take a position in the electric vehicle market. 

Blackberry stock is up over 130% year-to-date, mainly due to it being caught up in the short-squeeze mania. However, the business software maker might be a worthy investment considering it has a few interesting deals and prospects in its future when its price comes back to reality. 

Is BlackBerry The Next Meme Stock?


While Tilray’s (NASDAQ: TLRY) financial situation is a little hard to analyze because of its merger with Aphria in May, it is still an interesting stock to consider. Both Aphria and Tilray have posted year-over-year revenue growth in their most recent earnings report, the latter bringing in $210.5 million in 2020, up 26% YoY.

In addition, the lifting of pandemic restrictions could boost sales growth further of its cannabis products in Canada, Europe, and the U.S.

There’s no doubt that Tilray is a market leader in the rapidly expanding cannabis market following its merger with competitor Aphria. The two companies together hold the biggest global geographic footprint in the marijuana space, low-cost production facilities, and exciting international growth potentials. Tilray CEO, Irwin Simon, welcomed the recent social media frenzy in Tilray’s stock, which should help the company’s reputation in the r/WallStreetBets community. 

Tilray shares are up 132% year-to-date, and many think its short-squeeze is only starting to take off now. Investors looking to take a slice of the marijuana industry pie might consider this stock, but be warned, volatility lies ahead and it might be a good idea to wait until the short-squeeze is over. 

Is Tilray Stock A Good Buy Right Now?

All in all, the above stocks are very risky. If you want more information about becoming a successful long-term investor, check out our blog ‘The Six Golden Rules Of MyWallSt.’

More on meme stocks below: 

Top Meme Stocks For An Investor Who Isn’t Afraid Of Risk

Is Beyond Meat The Next Meme Stock?

What Is A Better Investment Right Now: GameStop Or AMC Entertainment?

MyWallSt operates a full disclosure policy. MyWallSt staff currently holds long positions in companies mentioned above. Read our full disclosure policy here