What do you do with Meme stocks?

« Back to Previous Page
▲
0
▼
♥ 0

I have a question re: meme stocks. More specifically, BB stock. The truth is, I do not own it because I like meme stocks. Quite the contrary, I don’t like meme stocks! My thought on Blackberry is that cyber security and their QNX software may have upside down the road, and so I think there might be 5-year potential. But, heck, not at current evaluations. I think probably $6-$8 a share would be a reasonable price. I guess I just sell this and buy it back when the evaluation is more reasonable? I really don’t enjoy this meme stock business…even tho I am benefiting atm…I still don’t’ like it!

Marked as spam
Asked on June 2, 2021 12:47 pm
0 views
▲
0
▼
✔
Private answer

Hi there,

While we don't really give direction as to whether or not your should buy or sell a particular stock (it is a personal decision), our views on this meme stock business has been consistent. Take advantage where you can - these stocks are not being bid up based on fundamentals - momentum goes up but as we've seen in the past - it can just as quickly go down. BB is a solid stock, but we would not touch it here given it is a meme stock as it is near impossible to value it because of this action.

A member asked the same question about BB in January when meme stocks were at their peak. My answer was the same (at the time it was at $18.00 - maybe even higher) - if it was me - i'd happily book my gains and would not look back. Whether I buy in later would be entirely dependent on price. Once could sell the entire position or even just a portion of the position to lock in certain gains. Many ways to do it and will be dependent on your own strategy/comfort level.

I'm like you - not a fan of this meme stock but if one of my stocks was targeted and saw a big run up in price - i would not hesitate to book gains. But that is me.

Mat

Marked as spam
Posted by Mathieu Litalien
Answered on June 3, 2021 5:50 am
▲
0
▼
✔
Private answer

Hi there,

While we don't really give direction as to whether or not your should buy or sell a particular stock (it is a personal decision), our views on this meme stock business has been consistent. Take advantage where you can - these stocks are not being bid up based on fundamentals - momentum goes up but as we've seen in the past - it can just as quickly go down. BB is a solid stock, but we would not touch it here given it is a meme stock as it is near impossible to value it because of this action.

A member asked the same question about BB in January when meme stocks were at their peak. My answer was the same (at the time it was at $18.00 - maybe even higher) - if it was me - i'd happily book my gains and would not look back. Whether I buy in later would be entirely dependent on price. Once could sell the entire position or even just a portion of the position to lock in certain gains. Many ways to do it and will be dependent on your own strategy/comfort level.

I'm like you - not a fan of this meme stock but if one of my stocks was targeted and saw a big run up in price - i would not hesitate to book gains. But that is me.

Mat

Marked as spam
Posted by Mathieu Litalien
Answered on June 3, 2021 5:50 am
« Back to Previous Page