GameStop stock surges over 70%—but investors should still be wary of 'meme stocks'

For most people, a return to social media wouldn't be remarkable. But Gill isn't most people. Between 2020 and 2021, he became one of the key internet personas who encouraged an army of day traders to

Investors should also be wary of chasing meme stocks with the expectation of earning a profit. Here's why.When it comes to meme stocks like GameStop, it's important for investors to consider what is motivating them to invest, says Douglas Boneparth, a certified financial planner and the president of Bone Fide Wealth.

To answer that question before investing in any stock — meme stock or not — investors should research a company's core business model, as well as factors like how it plans to increase revenue over the long term, Boneparth says.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GameStop stock surges over 70%—but investors should still be wary of ‘meme stocks'Roaring Kitty returns to social media, GameStop’s stock surges and short sellers lost over $1 billion. However, investors should be wary of chasing meme…
Source: NBCLA - 🏆 319. / 59 Read more »