It’s fun and potentially lucrative, at least in the short run and if your timing is right, to invest in meme stocks.
AMC Entertainment (NYSE: AMC) was one such stock, and its share price went for a wild ride
At one point in 2021, the price shot up to well over $600, but it currently trades under $2. Arcs like that may make for exciting headlines, as well as big paydays for a few lucky traders. But it’s awfully hard for a long-term minded investors to profit.
It’s a much better strategy to own dividend-paying stocks with strong underlying fundamentals. Target (NYSE: TGT) belongs in that category. Its share price may not shoot up overnight, but it won’t collapse, either.