It’s 2008 Again For This Stock

There’s no shortage of interesting charts or data out there. But this morning, our scan of the best-performing stocks in the S&P 500 brought up DISH Network Corporation. And once we pulled up its long-term chart, we realized we’d been teleported back over a decade. 🕰️

The American television provider and owner of direct-broadcast satellite provider Dish is trading back at its 2008 lows. The mid-cap ($4.6 billion) stock has seen better days, falling roughly 90% from its all-time highs in 2015. 📡

Analysts say weakness in its core business and legal troubles over its recent cybersecurity incident are reasons to be cautious. Additionally, it faces a class-action lawsuit from shareholders claiming it made false and misleading statements about its operational efficiency and IT infrastructure.

Where $DISH shares head from here is anyone’s guess. Nonetheless, it’s popping up on some people’s radars now that’s it back to the same levels it fell to during the financial crisis. 🤷

Rite Aid Reemerges (Again)

Rite Aid has been on the decline for a long time but is one of those stocks that occasionally pop back up on the radar. 🧭

Today, the pharmacy chain said it’s preparing to file for bankruptcy in an attempt to address mass federal and state lawsuits over its role in the sale of opioids. The Chapter 11 bankruptcy filing would cover its more than $3.3 billion debt load and pending legal allegations that it oversupplied prescription painkillers. 💊

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Original “Meme Stocks” Back In News

Almost as if we had taken a time machine back two years, AMC, Gamestop, and Bed Bath & Beyond popped back up in the news today. But not for great reasons. 🙃

First, we’ll start with AMC Entertainment. Last week, the company completed three efforts to pave the way for issuing new shares of stock: a 10-for-1 reverse split, converting $APE units into $AMC shares, and paying out a shareholder lawsuit settlement. And it’s wasting no time getting started. 

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Pepsi Eyes Beverage Growth

Seemingly everyone from global conglomerates to content creators is getting in on the beverage space. That’s because beverage products tend to have much higher margins than food products. And if you can market your way through the competitive space, you can make a pretty penny. 🧃

If you need evidence of that, just look at one of the best-performing stocks in the market, Monster Beverage. Since going public about thirty years ago, it has returned nearly 270,000%. It’s almost as if its stock price drank a lot of monster energy. 🤩

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