Following the rally of GameStop and AMC earlier in the year, Maxim Manturov, Head of Investment Research at Freedom Finance Europe, lists the stocks likely to be potential targets of the “meme stocks” movement and explains why it’s important not to get sucked into impulse buys.
“The steady rise of AMC, GameStop, and other meme stocks was due to a result of high levels of liquidity in the financial system and the impact of the pandemic. Individual investors must, without a doubt, control their emotional purchasing and selling impulses, which can be triggered by market ups and downs, FOMO, and other factors.
“Indeed, because they are frequently entangled in hype or fear, sometimes investors appear to start investing at highs and selling at lows. The key is to understand the motivations behind emotional investing and to avoid both euphoric and depressive investment traps that can lead to bad decisions. The investor psyche can overpower rational thinking during times of stress, whether the stress is caused by euphoria or panic. To capitalise on market euphoria or frightening events, it is critical to take a rational and realistic approach to investing.
“With this in mind, below are the following stocks that are likely to be potential targets of the “meme stocks” movement in the near future:
- “Blink Charging Co. (BLNK) owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States through its subsidiaries. The company provides residential and commercial EV charging equipment, allowing drivers to recharge their vehicles in a variety of locations. It also offers the Blink Network, a cloud-based system that manages, maintains, and monitors Blink’s various charging stations and associated charging data, as well as internal transactions and payment processing. Also, the company offers cloud-based services that allow remote monitoring and control of charging stations for EVs to property owners, managers, parking companies, and governments and municipalities. In addition, the company offers EV charging equipment, software services, and service plans.
- “Palantir Technologies Inc. (PLTR) develops and deploys software platforms for the United States intelligence community to aid counterterrorism investigations and operations. Palantir Gotham is a software platform for civil servants in the defence and intelligence sectors that enables users to uncover patterns hidden deep in datasets, ranging from intelligence signal sources to sensitive informant reports. The company facilitates exchange between analysts and operational users by assisting operators in the planning and implementation of realistic responses to threats detected within the platform.
- “Workhorse Group, Inc. (WKHS) is a technology company based in the United States that designs, manufactures, builds, and markets battery EVs and aircraft. In addition, the company is working on real-time, cloud-based telematics performance monitoring systems to help vehicle fleet operators optimize energy and route efficiency. Under the Workhorse brand, it offers electric and medium-duty trucks with an extended range, as well as the HorseFly Unmanned Aerial System, a custom-designed all-electric drone system.”