3 Meme Stocks to Sell Even as the Euphoria Gains Traction

Market Overview - U.S. markets are trading at all-time highs, with gold nearing $2,500 an ounce, indicating a potential rate cut is imminent [1] - Despite market euphoria, caution is advised as underperformers and laggards are evident, necessitating a focus on fundamentals over price [1] ChargePoint Holdings (CHPT) - ChargePoint Holdings has experienced a significant correction of 72% over the past 12 months due to weak fundamentals and disappointing growth [2] - Q1 2025 revenue declined by 18% year-over-year to $107 million, with increasing operational losses as a percentage of revenue [2] - The company aims for positive adjusted EBITDA by January 2025, but skepticism remains regarding its outlook [2][3] Beyond Meat (BYND) - Beyond Meat has been in a sustained downtrend following a rally in 2021, with Q1 2024 revenue reported at $75.6 million, down 18% year-over-year [5] - The adjusted EBITDA loss for the same period was $32.9 million, indicating ongoing financial struggles [5] - The company has a cash buffer of $173.5 million but faces potential fundraising needs due to cash burn and existing debt of $1.1 billion [5] Polestar Automotive (PSNY) - Polestar Automotive has seen a drastic decline of nearly 80% in the last 12 months, with predictions of an additional 30% to 50% drop in the next year [6] - Q1 2024 revenue fell by 36% to $345.3 million, while operating losses increased to $231.7 million [6] - Despite a cash buffer of $784 million, further fundraising is anticipated due to ongoing cash burn [6]