MDB - 3 Meme Stocks That Are Actually Solid Long-Term Picks
2023-06-09 07:26:00 ET
The meme stock craze has made stocks popular for one of the worst reasons -- popularity. In recent years, stocks like GameStop and AMC Entertainment benefited from a social media-induced feeding frenzy despite uncertain growth prospects.
Nonetheless, other meme stocks are on increasingly solid footing amid innovations and rapid revenue growth. To this end, stocks such as Palantir Technologies (NYSE: PLTR) , MongoDB (NASDAQ: MDB) , and SoFi Technologies (NASDAQ: SOFI) could not only benefit from meme-driven hype but also build on gains once the fanfare subsides.
Around the time of its 2020 IPO, Palantir's big data capabilities drew the attention of meme investors. Its potential to help with tasks ranging from preventing security breaches to tracking the spread of COVID-19 made the stock popular before the 2022 bear market sent it into the single digits.
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3 Meme Stocks That Are Actually Solid Long-Term Picks