It’s been a tough few years for the bears. It feels like decades ago, but 2019’s flash crash had doomsayers predicting another 2008-style financial crisis. Likewise, the pandemic’s early days seemed like an economic disaster – until it wasn’t, as monetary policy pushed stocks to record highs. Now many of them have become some of the top stocks to sell. Even the Fed’s realignment pushed bearish sentiment to all-time highs as recession fears spiked. Stocks dipped in 2022 but picked back up this year to come within a hair of the market’s all-time high.

But that’s the overall market performance – individual stocks are a different story. The past few years have been full of stock scams, overvaluation, and overexuberance. Many of the highest-flying stocks have been brought back to Earth as financial fundamentals matter more to investors. 

Still, these doomed stocks are hanging on (somehow). And, if you’re holding any of these seven stocks, sell them. If you’re considering adding them to your portfolio – don’t. 

Stocks to Sell: AMC Entertainment (AMC)

Is anyone still bullish on AMC Entertainment (NYSE:AMC)? Besides, of course, the innumerable bagholders holding out hope for a reversal on this meme stock. A reverse split and preferred share conversion scheme, which was intended to shore up the stock, did little to alleviate AMC’s precarious position and mounting debt. In fact, the move was so ineffective that AMC now plans to sell 40 million new shares, diluting existing shareholders even more.

In the announcement, even AMC’s management took a bearish tone, warning investors they should be “prepared to incur the risk of losing all or a substantial portion of your investment.”

But, practically speaking, there’s little about AMC’s stock to inspire bullishness. The share price, well below past highs, is now marking record lows as each trading session brings the price down further on the back of bad news. Likewise, stale sales and $9.5 billion in debt and obligations weigh heavily on the company’s operations. 

Very few will be surprised if AMC goes bust within a few years. If you’re still hoping for a short squeeze on AMC, don’t. The best time to sell was in 2021 but, if you’re still invested, the second best time to sell is today. 

Bark Inc. (BARK)

Bark Inc. (NYSE:BARK) is one of many SPAC-mania victims, falling to a fraction of its pre-merger high. Eventually, investors saw the reality of BARK’s financials and value proposition—neither of which inspired confidence. 

First, and most evident, Bark’s primary BarkBox product is tailor-made for a booming economy when households have plenty of discretionary income. That isn’t the case today, as evidenced by steadily falling sales over the past few quarters. The company has yet to turn a profit, ever, and profitability is the savvy investor’s watchword in today’s economy. Long-term growth prospects without an underlying fundamental infrastructure today aren’t cutting it as they did in 2021. Bark is yet another casualty of stock valuations that went too quickly. 

Stocks to Sell: Riot Platforms (RIOT)

Riot Platforms’ (NASDAQ:RIOT) sole value proposition is that Bitcoin (BTC-USD) is sufficiently stable. Unfortunately, that doesn’t appear to be the case.

Although the crypto’s value remained fairly stable this year, Bitcoin is losing its luster. In fact, Bitcoin trading volume has fallen 95% since March, and a few whales dumping their wallet on the open market might be enough to tank the coin (even if only temporarily). Also, low volume and reduced enthusiasm don’t bode well for a company whose entire value proposition hinges on Bitcoin’s popularity. 

Moreover, mining Bitcoin demands massive power consumption. And, with mining facilities in scorching-hot Texas, the company is already facing shutdown demands from central energy authorities. Riot got paid for the shutdown, which buffered the effects of halting operations. But,  in an increasingly climate-focused landscape, can Riot overcome Bitcoin’s uncertain future while avoiding regulatory or public relations fallout based on massive energy consumption?

If you’re bullish on crypto, keep it in your wallet. Investing in a doomed stock like Riot is the wrong way to bet on Bitcoin.  

Beyond Meat (BYND)

Beyond Meat (NASDAQ:BYND) didn’t live up to its (self-generated) hype. And demand for synthetic meat just isn’t there. Plus, sales figures continue dropping, with revenue falling 40% in the most recent report. Worse, slim margin improvements came from internal efficiencies after the company lost $53.5 million in the previous quarter. 

Equally threatening to BYND’s future is the low bar to entry in the plant-based meat field. The technology to produce plant-based meat isn’t groundbreaking or complex, particularly as the industry’s matured, and new entrants are popping up faster than markets can keep track of them. 

Tough financial times and a flooded field aren’t a good combination and might spell the end for Beyond Meat. If you’ve bitten off more than you can chew with this doomed stock, now is the time to sell. 

Stocks to Sell: Coinbase Global (COIN)

Another one of the top stocks to sell is Coinbase Global (NASDAQ:COIN) where success hinges largely on crypto market exuberance. And, as the US SEC pressures COIN to limit exchange trading to Bitcoin and exclude every alternative crypto, COIN’s future is increasingly uncertain. This came largely on the heels of a recent influx of scam tokens that put $2 million into bad actors’ pockets.

This poses a dual threat to COIN. Management can either fight the US SEC and offer as many coins as possible, scaring customers off on the heels of continued scam threats. Or, it can offer Bitcoin exclusively and find itself wholly dependent on the cryptocurrency’s day-to-day value. It isn’t a pleasant position to be in.

Furthermore, customers are increasingly electing to manage their crypto wallets directly and eschewing exchanges. As evidenced by FTX’s collapse, the “not your wallet, not your coin” maxim is proving itself true – making Coinbase’s core customer demographic strike out on their own and manage wallets independently. 

Peloton Interactive (PTON)

I own a Peloton Interactive (NASDAQ:PTON) bike, and love the product – I use it daily. But I wouldn’t touch the stock. Fresh on the heels of product recalls and increasing insider stock sales, Peloton’s future just isn’t bright.

Peloton’s most recent earnings report almost doubled the per-share loss analysts projected. At the same time, the company’s churn rate (subscriber cancellations) increased, and new customers didn’t sign up fast enough to compensate. Management blamed seasonality, which is doubtlessly one factor. But Peloton is a luxury product targeting households with discretionary income. Today, everyone who wants and can afford a Peloton has one – leaving limited upside potential for new customer acquisition. 

Rumors have abounded for the past few years since Peleton’s stock began its downward trajectory, that the company was ripe for acquisition. Personally, I hope Peloton gets bought out – quickly. I’d hate to be left with a 100-pound doorstop if the doomed company shutters operations and leaves the few remaining subscribers out in the cold. 

Carvana (CVNA)

Carvana (NYSE:CVNA) stock jumped this year after falling into the low-single digits in 2022. However, the reversal came largely on the heels of used car overvaluation due to supply chain concerns. Today, logistic gaps are closing, and the used car market is stabilizing. That spells trouble for Carvana. 

Carfax reports that, across the board, used cars are worth less. At the upper end, hybrid and electric vehicles fell 22% in value. Even the “best” performing category, pickup trucks, fell 2%. Carvana suffers from slim margins already. At the same time, consumers recognize dwindling prices and may be motivated to source deals closer to home rather than paying a premium for home delivery and other Carvana services. 

Analysts at Morgan Stanley agree that Carvana is on thin ice. Morgan Stanley’s downgrade adjustment came on the heels of Carvana’s sharp reversal – while the analysts affirm there’s still potential for the company, today’s prices are simply too high. Ultimately, Carvana investors should sell the stock and take a profit while they still can. 

On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.