Now, movies are slowly starting to trickle out of Hollywood. Non-essential business closures physically kept theater doors shut for several months. No one wants to crowd into a theater and risk getting sick.
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Movie theaters are struggling thanks to the Covid-19 pandemic. The story with AMC Entertainment should be rather simple. This is because at the time, AMC had a share price below $10. Yesterday, Meade identified AMC stock as one of the “short names” for the r/WallStreetBets “army” to go after next. Struggling movie theater operator AMC Entertainment (NYSE: AMC) is also gaining thanks to Meade and speculative hopes. With $140 million more to its name, EXPR stock apparently looks like the perfect fit. Express has recently received financing from Sycamore Partners and Wells Fargo (NYSE: WFC). Beyond identifying it as a potential turnaround story in retail, he also cites recent investments. This is where the turnaround angle comes in.Īccording to Will Meade, who identifies himself as a former portfolio manager at Goldman Sachs, Express is identical to GameStop before its big run. Although they are down nearly 25% today, the gains in EXPR stock are still impressive in a short time period. Shares closed higher Monday by more than 100% in a truly wild move. That is not stopping investors from seeing it as one of the Reddit WSB stocks to chase.
The company burned more than $134 million in nine months as these trends started to play out. Express focuses on dressier clothes in an age where athleisure is winning.
Plus, as Wedbush analyst Jennifer Redding highlighted, current apparel trends are not helping the retailer. You can find Express stores in many malls where foot traffic and sales are down, especially thanks to Covid-19. Is Express (NYSE: EXPR) the next GameStop? Some r/WallStreetBets posters think so, setting EXPR stock up to be another potential Reddit winner.Įxpress, like GameStop, is a staple of the dying brick-and-mortar retail era. With those two accomplishments and a massive rally in the rear-view mirror, Yeung is betting that more gains are on the way. It also settled a suit with Facebook (NASDAQ: FB) over its messaging technology. BlackBerry recently sold off more of its patents to Huawei, further distancing itself from the handset business. It sure seems like it, at least according to Reddit.
Armed with new high-tech solutions, could a turnaround story be underway? BB stock has followed those revenues, touching a 52-week low below $3. As Yeung also highlights, revenues have plummeted 95% since its 2011 peak. However, the new focus has not been smooth sailing for BlackBerry.
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Its end-to-end cybersecurity tools secure 175 million cars, and its QNX operating system helps run driver assistance and infotainment for eight top automakers. As InvestorPlace Markets Analyst Tom Yeung wrote, BlackBerry has found quiet success through these solutions. Now it focuses on cybersecurity, artificial intelligence and internet of things (IOT) solutions. Like GameStop, hopes for a turnaround are fueling the rise in BB shares.Īlthough BlackBerry is familiar to many for its cell phone line, the company switched its focus back in 2016 and sold off many of its handset assets. Besides GME stock, BlackBerry (NYSE: BB) is making the rounds on r/WallStreetBets as a top ticker.
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