An analyst warns that popular meme stocks, like GameStop and AMC Entertainment, are heading towards oblivion due to social sentiment driving their prices rather than financials. For example, Bed Bath & Beyond filed for bankruptcy after its stock surged due to meme mania. Peloton, a recent meme stock, reported a profit causing a 10% share increase, but analyst David Trainer warns of its impending downfall due to declining sales and high cash burn. Trainer believes meme stocks prioritize hype over numbers, leading to risky investments and potential bankruptcies. The fate of meme stocks remains uncertain as social media hype continues to influence stock prices.

Read more at Yahoo Finance: Analyst says popular meme stock is an exercise in futility