Don’t expect “meme mania” to make a comeback soon, but there may be good reason to consider a few of the meme stocks to buy on the dip. Largely, stocks that have experienced meme-like rallies, but aren’t primarily in the meme stocks categories.
Shun names like AMC Entertainment (NYSE:AMC) and GameStop (NYSE:GME). Instead, consider other hot stocks popular among retail investors.
Rather than depending on another “meme wave” to surge higher, these stocks have strong rebound potential. This time, because of company-specific catalysts.
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For instance, with some pre-revenue meme stocks, the announcement of major commercialization progress could send them “to the moon” once again.
Or, for more established stocks with meme-like qualities, the reporting of better-than-expected fiscal results and guidance may be what gets them moving in the right direction once again.
There are also some meme stocks to buy on the dip that could be considered value plays, that have big upside potential if they experience a sentiment shift.
Archer Aviation (ACHR)
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Archer Aviation (NYSE:ACHR) is an early-stage company in the electric vertical take-off and landing business, aka the “flying taxi” business. Although Archer has yet to generate material revenue, it has made significant progress so far this year in getting to the commercialization stage.
As I recently discussed, such progress has included further investment from strategic partners, among many other benchmark successes. Still, while ACHR stock surged on some of this news last month, shares have since pulled back sharply.
Short interest has increased, as bearish investors bet that an economic slowdown stymies further progress for Archer. However, things continue to move in the right direction for the company.
Hitting even a small milestone can drive an outsized move higher for shares. With this in mind, you may want to consider buying ACHR on the dip.
This stock has been a popular meme play in the past, and could soon be popular among retail investors once again.
Celsius Holdings (CELH)
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Celsius Holdings (NASDAQ:CELH) is a beverage company. Best known for its eponymous energy drink, Celsius has experienced a high level of growth so far this decade. Generating just $75.1 million in sales during 2019, over the trailing twelve months, total revenue has come in at nearly $1.5 billion.
Yet after years of strong growth, as well as strong price performance for CELH stock, shares have entered a severe slump more recently.
After peaking at prices nearing $100 per share, CELH has since dipped down below $40 per share. However, with this sharp pullback, one can argue that the stock is now reasonably-priced, compared to future growth forecasts.
Although there’s now increased skepticism that Celsius’ growth streak will continue, factors like the company’s aggressive expansion overseas suggest that high organic growth could persist.
If it does, it may lead to further strong growth of the company’s bottom line. Sell-side forecasts call for Celsius Holdings to report 23.1% earnings growth next year, and 44.2% earnings growth in 2026.
A CELH comeback could pay off in a big way for those who get earl. Hence, consider it one of the meme stocks to buy on the dip.
Nvidia (NVDA)
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Nvidia (NASDAQ:NVDA) may be more of a “Mag 7” stock than a meme stock, but it’s popularity among retail traders makes it a name to consider for the purposes of this list.
A big reason behind NVDA’s latest pullback has to do with increased concerns that the AI boom will soon slow down.
Big Tech companies will walk back their AI infrastructure plans, resulting in less stellar growth levels for NVDA.
That said, while that may still be the overall sentiment today, this could change in a big way just a few weeks from now.
At the end of this month, Nvidia will report its latest fiscal results.
As Louis Navellier and the InvestorPlace Research Team recently argued, NVDA stock could experience a post-earnings surge.
At least, if the latest results and updates to guidance both exceed expectations, and calm down, AI slowdown fears.
Much like what happened with Palantir Technologies (NYSE:PLTR), another top AI stock, better-than-feared results and outlook could drive another wave of euphoria for NVDA among retail traders.
Paramount Global (PARA)
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If you thought I was stretching it including NVDA as one of the meme stocks to buy on the dip, you may find me including Paramount Global (NASDAQ:PARA) on this list as a far reach.
However, hear me out. Shares in the media conglomerate may not have been “meme kings” like AMC and GME once, but it’s possible many some traders piggybacked a short-lived momentum trade with this stock’s predecessor back in 2021.
PARA stock could become popular with retail traders if it successfully transitions from television-focused to streaming-focused business models. With Paramount Global, a pending merger with Skydance could be key for executing this transformation.
If the Skydance merger, plus related turnaround plans, prove successful, the impact on PARA’s price performance could be tremendous. Shares today trade at a heavily-discounted 6.8 times forward earnings.
Even a market rerating to say, 10-15 times earnings would mean a significant rebound in price. Meme investors approaching this opportunity may need to be a bit more patient, but the potential payoff could make it really worth it.
Super Micro Computer (SMCI)
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Like NVDA, Super Micro Computer (NASDAQ:SMCI) became popular among Main Street and Wall Street investors alike during the 2023 and 2024 waves of “AI stock mania.”
Trading in the low-$80s per share at the start of the generative artificial intelligence growth boom, SMCI stock at one point surged by over fifteen-fold, to an all-time high of $1,229 per share.
More recently, though, waning enthusiasm for the AI growth trend has led to a significant drop in price for Super Micro Computer. The stock now changes hands for around $575 per share.
Yet while SMCI may look like a “falling knife” on a stock chart, pretty soon you may want to make it a meme stock to buy on the dip. Following its sharp price decline, the stock now trades for only 16.6 times earnings.
Although much of this has to do with concerns about slowing growth and falling margins for the AI server maker. Still, with expectations now heavily walked-back, there may be a greater chance for Supermicro to positively surprise with subsequent results.
This could make it popular among both meme traders and the so-called “smart money” once again.
SoFi Technologies (SOFI)
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As you may recall, SoFi Technologies (NASDAQ:SOFI) shares experienced numerous waves of “meme mania” during the height of the meme stock phenomenon in 2021.
In more recent years, however, shares in this fintech and neobank has both tumbled and struggled to make a recovery.
But while SOFI stock has been plodding along for several years, now may be the time to make it one of the meme stocks to buy on the dip.
Now scaled to the point of profitability, SoFi could continue to report outsized increases in its bottom-line because of its high level of operating leverage.
Analyst consensus calls for SoFi’s earnings to rise fourfold next year, and by another 87.5% during 2026.
The company’s continued strong fiscal performance, including the recent reporting of “beat and raise” results late last month, strongly suggest that SoFi can meet these forecasts.
Perhaps, even beat them. The high end of forecasts call for an even greater degree of earnings growth. Two years out, this stock could report earnings of between 50 and 75 cents per share. Not too bad, given how SOFI currently trades for around $6.75 per share.
SoundHound AI (SOUN)
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Earlier this year, at the height of SoundHound AI’s (NASDAQ:SOUN) meme popularity, I was skeptical about the company’s AI growth bona fides.
However, giving the situation a second look, I can now see a reasonable bull case for this AI audio company’s shares.
This changing view on SOUN stock all has to do with recent acquisition news. Last week, SoundHound AI announced plans to acquire enterprise AI software company Amelia.
Put simply, there’s a lot to like about this transaction. As stated in the deal news release, this $80 million acquisition is poised to be accretive to earnings, with big potential for major revenue and cost synergies.
SOUN has already bounced back slightly on the Amelia news, but further upside may lie ahead. Analysts at Cantor Fitzgerald have already raised their price target on the stock from $5 to $7 per share.
However, the company’s shares previously traded at prices north of $10 per share during prior meme waves. Considering this, upside potential with this $5 meme stock on the dip may be far greater than you think.
On the date of publication, Thomas Niel did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) and positions in the securities mentioned in this article.
On the date of publication, the responsible editor did not have (either directly or indirectly) and positions in the securities mentioned in this article.
Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016.
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