Is Sundial Growers Just a Meme Stock?
A meme is something that grows in popularity on the Internet. Typically it refers to an image with a funny caption, but with more retail investors buying stocks, it has spread into the investing world as well -- and there can even be "meme stocks" that rise in value mainly due to their growing popularity on the Internet. A good example is GameStop, where a struggling business found life and skyrocketed in value this year, largely due to its popularity on the /r/WallStreetBets Reddit forum.
The problem with an investment like that is there's not necessarily much substance behind it, and it's merely a speculative buy. Another stock that is popular on Reddit and that can potentially fall into the meme category is Sundial Growers (NASDAQ: SNDL). It has more than doubled in value this year, but is it really all due to hype, or is this a good investment that you should consider putting in your portfolio today?
Image source: Getty Images.
Source Fool.com
