5 Meme Stocks That Are On The Rise Again

Contentworks Agency
5 min readFeb 6, 2023

These guys have the tendency to be some of the most divisive instruments in trading. Meme stocks are always interesting, regardless of how you feel about them. Today, we’re sharing some of the Meme stocks that may bounce back in 2023. After that, we’ll review this week’s hottest trading events for your calendar. Let’s get to it!

What’s a meme stock?

Meme stocks are stocks that rise in popularity thanks to “going viral” on social media platforms. Conversations on Instagram, Reddit, Facebook, Tiktok, etc. essentially stir up the hype and generate Fear of Missing Out (FOMO) that compels retail investors to invest en masse, decreasing supply and pushing up prices

These price rises are largely artificial, in that they are not usually based on tangible or credible business information like earnings reports. Sometimes the information is completely baseless. Scary territory for investors.

5 meme stocks to watch in 2023

Here are some of our top meme stock picks right now.

1. Tesla (TSLA)

Does this really need an intro? This king of Meme Stocks is, of course, led by a one-man-meme factory.

Tesla had recently been facing a very public lawsuit about a 2018 tweet in which Elon Musk publicly announced that he was planning to take the company private. Last week, he was cleared of any wrongdoing. But the next drama is never far away and that always attracts intrigue… and investment.

Back to business, Tesla did manage to deliver a record 1.3 million EVs in 2022, up 40% from 2021 levels, despite the Chinese downturn and lingering pandemic issues. 2023 has, so far, been a different story. Tesla lowered its prices in China and instantly saw EV registrations in China up 500% in just one week. That’s pretty electric!

Shares could soar as the drama continues and the company’s stock climbs back up the price ladder.

Price 01.01: 108.10 USD

Price 03.02: 189.98 USD

YTD: +75.73%

Source: Google

2. Silvergate Capital (SI)

Perhaps a surprise inclusion, Silvergate Capital is a bank specialising in fintech and cryptocurrency. Which is exactly why it’s made our mini-list. Fintech and crypto were two of the hardest-hit sectors in 2022. Silvergate dropped with them. SI stocks lost almost 83% of their value in just 12 months.

But why should investors treat this differently than any other crypto bank? Well, Silvergate Capital ain’t your usual bank. It’s a spin-off of Silvergate Bank, whose stock has been profitable for each of the last 24 years. Which, in case you needed telling, is staggering.

Excellent pedigree and a genuine shot at potential double-digit growth make this one a bit more interesting.

Price 01.01: 17.27 USD

Price 03.02: 18.83 USD

YTD: +9.03%

Source: Google

3. Palantir (PLTR)

Palantir builds products that use machine learning and data analytics to detect potentially suspicious patterns in large data sets. Data is an increasingly important commodity and accurately sorting it by authenticity is something that most companies need at some level. Enter Palantir.

2023 has started well for the company as they recently announced a strategic partnership with Cloudflare. The move is designed to help companies slash their cloud storage costs — and what company doesn’t want to cut costs right now?

Shares are up 9% already this year and many analysts are predicting that 2023 could be a breakout year for the American tech company.

Price 01.01: 6.39 USD

Price 03.02: 8.41 USD

YTD: +31.61%

Source: Google

4. Virgin Galactic (SPCE)

Virgin Galactic was founded by Richard Branson and is part of a new billionaire’s space race vs. Jeff Bezos’ Blue Origin, and Elon Musk’s SpaceX. SPCE stock had a rough 2022, with the stock dropping 29% in the last 12 months, but 2023 has started off strongly with a 74% rise in value.

The key to the success of this one will be getting its commercial space programme off the ground (pun intended). This is planned for the second half of 2023. Virgin Galactic is making stellar ticket sales (we’re getting good at these), selling them much cheaper than their rivals.

Could SPCE be heading for the moon in 2023? Didn’t they go there already? (opinions welcome!)

Price 01.01: 3.49 USD

Price 03.02: 6.08 USD

YTD: +74.21%

Source: Google

5. Blackberry (BB)

Well, this is a blast from the past! You may not have heard of Blackberry in a while but nowadays the Canadian techie provides endpoint security and other Internet of Things management products.

It seems to be doing pretty well at it, too. With share growth this year totalling 34%. That’s a big win considering that the company saw 55% of its stock value wiped out last year.

Blackberry is making big plays for the automotive industry this year and if it pulls that off, it might well be payday for investors who get in while the stock is below $6.

Price 01.01: 3.31 USD

Price 03.02: 4.46 USD

YTD: +34.74%

Source: Google

How about you?

Do you have another favourite Meme stock? Or, perhaps you can’t stand them! Whichever side of the fence you’re on, we’d love to continue this over at @_contentworks.

Top fundamental events this week

This week looks quite light until we hit Friday. Get ready for some major events at the end of the week. Here are all the deets.

Monday

No significant events are planned.

Tuesday

● AUD — RBA Interest Rate Decision

● CAD — Balance of Trade (DEC)

Wednesday

No significant events are planned.

Thursday

● EUR — German Inflation Rate YoY Prel (JAN)

Friday

● AUD — RBA Statement on Monetary Policy

● CNY — Inflation Rate YoY (JAN)

● GBP — GDP 3-Month Avg (DEC); GDP Growth Rate YoY Prel (Q4); GDP YoY (DEC)

● CNY — New Yuan Loans (JAN)

● CAD — Employment Change (JAN); Unemployment Rate (JAN)

● USD — Michigan Consumer Sentiment Prel (FEB)

Here at Contentworks we closely follow market movements and prep content that we think your traders would love to read. Let’s get you started right here.

Speak soon!

The Contentworks team

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Contentworks Agency

Contentworks Agency provides compliance friendly content to banks, forex brokers, fintechs and many other sectors.