Could Macy's Really Become a Meme Stock?

Macy's (NYSE: M) has come under pressure from activist investors this fall, contributing to a roughly 50% gain for Macy's stock over the past two months.

Jana Partners led the way, recommending that Macy's spin off its e-commerce business to achieve a higher valuation. This month, NuOrion Advisors made a similar demand, while also arguing that the company should start accepting cryptocurrency payments and aggressively pursue partnerships with electric vehicle (EV) companies.

In short, activist investors want the department store giant to engage in a variety of gimmicks. The goal, it seems, is to turn Macy's into a meme stock to quickly drive the share price higher. But despite the stock's big gains this year, Macy's is unlikely to become a meme stock -- nor should it try.

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Source Fool.com