Meme stocks have made an unexpected comeback on Wall Street lately, after Keith “Roaring Kitty” Gill recently returned to social media - effectively reviving interest in GameStop (GME), the long-suffering video game retailer that became the centerpiece of a short-squeeze revolution back in 2021. And while “diamond hands” investors were quick to rally back around Gill and the GME narrative, analysts continue to recommend against buying into GameStop's money-bleeding business model.
However, for investors who can't resist the idea of adding an electronics retailer to their portfolios in 2024, there's one name out there that Wall Street is actually warming up to: Best Buy (BBY), which recently stunned with relatively impressive quarterly earnings. Here's a closer look at the chain store, which just scored an upgrade to “Buy” at UBS on the strength of its recovery story.
