3 Meme Stocks For Your April 2022 Watchlist

While the broader

stock market

continues to go through ups and downs, meme stocks are turning heads. By and large, this somewhat volatile section of the market seems to be making a comeback in terms of attention. Evidently, some of the biggest names in the space have and continue to see increased activity over the past week. So much so that the likes of

GameStop

(

NYSE: GME

) were recently halted for volatility during trading yesterday morning. Today, while the meme stock goliath is returning some of those gains, investor interest in the industry remains high.

Before going into further details, a brief recap about

meme stocks

. For those uninitiated, meme stocks are essentially companies whose shares often see sudden notable movements. These movements, unlike with non-meme stocks, often come with no significant news from the companies. Instead, mentions and coordination over social media pages such as Reddit are fueling gains for the sector in most cases. Notably, some would argue that this is why investors tend to turn towards meme stocks in times of uncertainty. While broader economic factors like rising inflation and interest rates weigh in on the market, meme stocks remain somewhat unaffected.

For instance, we could look at the stock gains from GameStop and

Bed, Bath, & Beyond

(

NASDAQ: BBBY

) to see this. Year-to-date, GME stock is up by over 15% while BBBY stock is looking at gains of over 70%. These gains would put them well ahead of the three major stock indexes year-to-date. With all this attention on meme stocks now, some investors could be taking a closer look at the space. Should you be one of them, here are three to consider in the stock market today.

Meme Stocks To Watch Right Now

• 
  Tilray Inc.
  
  (
  
  NASDAQ: TLRY
  
  )
• 
  AMC Entertainment Inc.
  
  (
  
  NYSE: AMC
  
  )
• 
  Tesla Inc.
  
  (
  
  NASDAQ: TSLA
  
  )

Tilray Inc.

First up, we have

Tilray

, a leading global cannabis lifestyle and consumer packaged goods company. It has operations in Canada, the U.S., Europe, Australia, and Latin America. The company is a pioneer in cannabis research, cultivation, and distribution. Also, it has an unprecedented production platform that supports over 20 brands in over 20 countries. Its products include comprehensive cannabis offerings, hemp-based foods, and alcoholic beverages. Today, the company announced that it will be reporting its third-quarter fiscal 2022 financials on April 6, 2022.

Last week, it announced that its Solei brand has launched its new wellness product for nighttime use. The Renew Moonlight is a new CBN vape pen designed for nighttime use. Joining Solei’s award-winning portfolio of wellness products, this precisely formulated high-CBN vape pen has a potency of 4:1 THC, and CBN is blended with citrus and herbal aromas.

“Solei products are designed to support daily wellness routines from day to night,”

said Danielle Minard, Solei’s Brand Manager. She continued,

“Renew Moonlight is the perfect CBN product for consumers looking to ease into the night after a long day.”

On March 17, 2022, the company also announced that its Tilray Medical subsidiary is expanding its offerings in Malta and also launched its first medical cannabis oil products in the market. It has launched the first EU GMP medical cannabis oil products in Malta. The company says that demand for medical cannabis in Malta is growing rapidly and the company is incredibly proud to service patients with the high-quality medical cannabis products that they rely on and in the formats that they prefer. All things considered, is TLRY stock worth investing in?

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AMC Entertainment Holdings Inc.

AMC Entertainment

is a meme stock that is also one of the largest movie exhibition companies in the U.S. and Europe. It has approximately 950 theaters and 10,500 screens across the globe. The company has also been one of the most popular meme stocks to date, with retail traders pushing the stock by over 180% in the past year alone.

On March 1, 2022, the company reported its fourth-quarter and full-year 2021 financials. Total revenues for the quarter grew to $1.17 billion, up from $162.5 million 2 years ago. AMC says that this has been its strongest quarterly results in two full years. The company also ended the year with $1.59 billion in cash and cash equivalents. AMC also says that its positive recovery continued from the pandemic as it ended the fourth quarter. The quarter also offered moviegoers a more robust and appealing film slate that culminated with the exclusive release of the now third-highest grossing movie of all-time, Spider-Man: No Way Home.

On March 15, 2022, the company also announced significant investments in buying a 22% stake in

Hycroft Mining Holding Corporation

(

NASDAQ: HYMC

). Hycroft holds approximately 71,000 acres of the Hycroft Mine in northern Nevada. Independent third-party studies confirm that the Hycroft Mine has some 15 million ounces of gold resources and some 600 million ounces of silver resources. In addition, AMC will receive an additional 23.4 million warrants in Hycroft at $1.07 per share. Making an investment equal to AMC is Eric Sprott, one of the world’s leading gold and silver investors. Combined, AMC and Mr. Sprott are investing $56 million, which will help Hycroft considerably lengthen its financial runway. With that being said, is AMC stock a top meme stock to consider right now?

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Tesla Inc.

Another major name to consider in the current meme stock trade is

Tesla.

This leading electric vehicle (EV) manufacturer is a prominent player in its main field. However, due to CEO Elon Musk’s history of impacting TSLA stock with his social media posts, it also falls under the meme stock category. Whether investors are looking to jump on the meme stock train or ride long-term EV trends, TSLA stock could be a go-to.

For one thing, Tesla continues to work towards building its massive EV empire. As of earlier today, sources from Bloomberg News note that it is securing a supply of nickel. According to the report, Tesla could be working with

Vale

(

NYSE: VALE

), a massive Brazilian mining firm to do so. Namely, should this be true, it would mark a highly strategic play by Tesla. The reason for this being that nickel is a major component in EV batteries today.

At the same time, the price of nickel amongst other commodities continues to rise as geopolitical tensions persist. In detail, Bloomberg writes that Tesla and Vale are now part of a multi-year supply deal from Canada. After considering this interesting piece of news, would TSLA stock be a top buy for you?

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