Down 51%, Is This Former Meme Stock Now a Buy?
It's easy to forget now, but at one point last year, produce-maker Dole (NYSE: DOLE) enjoyed a brief time in the Sun as a meme stock. Dole never reached the same level of meme stock notoriety as the likes of Gamestop or AMC Entertainment Holdings, but it did receive a WallStreetBets write-up discussing how a potential banana shortage caused by a new fungus could drive the stock higher -- and the shares briefly rallied afterwards.
Alas, any excitement seems to have dried up long ago as the stock is down some 50% from its 52-week high, and it looks all but forgotten by the meme stock community. But look closer and Dole is actually a sensible investment on its own merits, and it doesn't need a new super fungus or a social media mob to rise over the long run.
Image source: Getty Images.
Source Fool.com
