3 Stocks To Avoid In October: Is GameStop On This List?

Video games and accessories retailer GameStop (GME) is a meme stock that investors should avoid like the plague in October. It’s being praised for the social media buzz it creates, not for its operating performance. Furthermore, in a short time, the price may dip below the five-month low of $ 143.22 at which the stock traded in May. For the entire month, the worth dropped by 17.7%. In mid-September, it rose from $206.34 to $213.71. Since then, it has plummeted 20.6%, falling to $169.62.

Movie theater chain AMC Entertainment (AMC) is the stock to avoid until either its operating performance improves dramatically or its share price drops to the single-digit average. None of the scenarios are close to being implemented at the moment. Ocugen Clinical Biotechnology Stock (OCGN) is one of the hottest vaccines to be phased out in October (and beyond). Ocugen’s problem is that its market for Covaxin is limited. Five major drug developers will hit pharmacy shelves long before Ocugen ever attempts to commercialize Covaxin in the US.