Here's Why You Should Avoid the Latest "Meme Stock"

[Profit Pregame] --------------------------------------------------------------- Thursday, August 05, 2021 Here’s Why You Should Avoid the Latest "Meme Stock" History is Likely to Repeat Itself for This Surging Stock This week, we saw the rise of retail traders' new favorite name. But even as the stock booms, there's good reason to stay away. What's happening? There's been a lot of talk this year about how the wave of new retail investors in the market have pushed stocks like GameStop Corp. (GME), AMC Entertainment Holdings, Inc. (AMC), and others to incredible heights with coordinated buying efforts. Well, retail investors seemed to have found their next target this week. And this time, it's not one of the most highly shorted stocks in the market. In fact, it's unclear just how many short positions have been opened on the stock. That's because it has only been trading for a few days now. I'm talking, of course, about Robinhood Markets, Inc. (HOOD) - which just made its initial public offering last Thursday, July 29. While Robinhood is somewhat unique for the huge number of users it has been able to attract to its trading platform over the last few years, the IPO and the trading days that followed were expected to be somewhat run-of-the-mill. In fact, the IPO looked like a bust for all intents and purposes in the first few days. But that all changed once the Reddit crowd got a hold of the stock. [Take a look at what's happening...]( You can buy these pre-IPO rights for around $1 One thing that the Robinhood IPO showed us is the tremendous profit power that the hype surrounding IPOs can create. But there's a better way to trade around them. Due to unprecedented levels of American entrepreneurial innovation, you can now secure what are known as "pre-IPO rights" in over 500 companies actively looking to go public. No accreditation is required, no minimum income requirements, and you can often get in for less than a dollar. These "pre-IPO rights" have recently shown exceptional peak gains of 2,088%, 6,566%, 9,075%, even up to 27,550% in just a matter of months. [Click here to see how it works](. In the Spotlight: Crypto has Uncle Sam's attention... After nearly two years of flagging sales and watching market share slip through its fingers, we're starting to see a resurgence from one of the most well-known restaurant brands in Canada. And even bigger things could be on the horizon. [Full story...]( --------------------------------------------------------------- [Money Morning Red Alert] The best way to receive the most timely, actionable opportunities from Money Morning is by joining our text messaging service, Red Alert - free of charge. 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