Here are three meme stocks that just have no more hope left.Canopy Growth : The cannabis company just reported a nearly $500 million quarterly loss.BlackBerry : The former smartphone maker is undertaking a strategic review of its business and selling its patents.AMC Entertainment : Can a reverse stock split and issuing more equity save the struggling movie theater chain?The meme stock craze was an exciting and crazy time for investors. Fortunes were seemingly won and lost as retail traders pushe
Some blow up spectacularly. Firms like Lehman Brothers and Long Term Capital Management left craters in the U.S. banking sector when leverage caught up with them. Others vanish in million-dollar buyouts. HP bought Compaq for $25 billion in 2002 and discontinued the trademark 11 years later.Texas-based GameStop is a prime example of a geriatric company that’s failing to adapt. According to its most recent filings, 84% of its revenues still come from hardware, accessories and videogame software — products readily available online. Management has failed to make much headway in Web 3.0 gaming and NFTs.“Management overworks, underpays, and under-appreciates its frontline workers, sets unrealistic expectations and constantly threatens termination for any employee that cannot exceed them,” the workers noted.That leaves GameStop looking like a Blockbuster or Redbox — a corporation with limited time left. Management has recognized this fact and is milking GameStop for its remaining cash. Inves