Meme Stocks With Value: 7 Strong Buys that Can Rise Without Roaring Kitty


  • BP (BP): BP stock has from time to time been popular with meme traders, yet it’s a strong choice for value investors as well.
  • DTE Energy (DTE): DTE may not seem like a value stock at first, but given its potential for steady gains and yield, it offers good value to investors.
  • First Trust High-Income Long/Short Fund (FSD): FSD is a high-yield meme stock that’s also a merger arbitrage play.
  • Read more about the top value meme stocks to buy today!
Value Meme Stocks to Buy - Meme Stocks With Value: 7 Strong Buys that Can Rise Without Roaring Kitty


The return of Keith Gill (aka Roaring Kitty), a prominent figure in the meme stocks saga, may have sparked a brief revival of the investing trend last week. However, the latest latest meme wave has come and gone. And while some of the most popular meme stocks may be pulling back, there are a few value meme stocks to buy.

Meme stocks may be best known for making big moves driven by speculative frenzy rather than fundamentals. But that’s not to say that every stock in this category is overvalued and/or has poor fundamentals. Let’s take a look at seven of them, and see why they have more than just hope and hype on their side.


BP stock: the BP company logo on a building
Source: FotograFFF /

BP (NYSE:BP) may at first not sound like the sort of stock popular with meme traders, but shares in the U.K.-based oil and giant have from time to time popped up on lists of most discussed stocks by meme traders.

Rising crude oil prices earlier this year may explain its off-and-on popularity. Yet even as oil prices pull back, you may want to buy BP stock. Why? For one, BP, at just eight times forward earnings trades at a discount to its U.S. counterparts. Shares also sport a 4.68% forward dividend yield.

Not only that, the company has been aggressive when it comes to share repurchases, with buybacks totaling $8 billion in 2023 alone. Beyond maximizing the profitability of its fossil fuel assets, BP continues to live up to its prior slogan “beyond petroleum,” with its big move into charging stations and other renewable energy businesses.

DTE Energy (DTE)

Front entrance of DTE Energy in Michigan.
Source: ehrlif /

DTE Energy (NYSE:DTE) is another “old school” company popular among “new school” investors. According to ApeWisdom, a tracker of meme stock popularity, shares in this Detroit, Michigan-based utility company are currently the sixteenth most-talked about stock on r/WallStreetBets and related subreddit.

Yes, at 17.5 times forward earnings, and you may at first question me calling DTE stock one of the value meme stocks to buy. This forward multiple puts shares on par with similar utility names. However, as my InvestorPlace colleague Muslim Farooque pointed out earlier this year, DTE is pouring $23 billion into growth projects over the next few years.

These projects may result in consistent earnings growth for the company. This growth, coupled with DTE’s dividend, could result in solid long-term returns. Speaking of the dividend, DTE currently has a forward yield of 3.51%. Payouts have increased annually for 14 years in a row.

First Trust High Income Long/Short Fund (FSD)

A man in a suit pointing to a dollar sign representing SONX Stock. high-risk high return stocks
Source: NicoElNino /

First Trust High Income Long/Short Fund (NYSE:FSD) is a closed-end fund (CEF) specializing in fixed-income securities like bonds and debentures. Last year, my InvestorPlace colleague Alex Sirois called it one of the best meme stocks for meaningful income.

FSD stock today is still a high-yielder. Its current forward yield comes in at 10.58%. This big dividend, paid out on a monthly basis, may just well be what attracted meme investors in the first place. However, that’s not the only angle at play with FSD.

The fund is the subject of a pending merger with Abrdn Income Credit Strategies Fund (NYSE:ACP), another CEF. ACP currently trades at 0.88% premium to its net asset value (NAV). FSD trades at a 5.33% discount to its NAV. This implies that a merger arbitrage opportunity exists, as FSD investors are to receive ACP shares equal to NAV.

Harley-Davidson (HOG)

A close-up photograph of the tank to a Harley-Davidson motorcycle with raindrops on it.
Source: Alex Erofeenkov /

Given the popularity and aura around the Harley-Davidson (NYSE:HOG) brand, it’s no mystery why its shares have become one of the meme stocks, albeit not one of the major meme stocks.

However, what may be surprising is that HOG stock is also one of the value meme stocks to buy. Shares in the motorcycle manufacturer trade for only 7.9 times forward earnings. Historically, Harley-Davidson has traded at a mid-teens multiple. HOG also has a forward dividend yield of 1.97%. That’s not all. Harley-Davidson may be a takeover target as well.

As Morgan Stanley argued back in March, HOG is one of several midcaps that could be the subject of a takeover from strategic and/or financial buyers. Even if HOG doesn’t get acquired if the U.S. economy avoids a serious recession, fears about a possible earnings dive could evaporate, resulting in a sharp re-rating for shares.

Kroger (KR)

Kroger (KR) Supermarket. The Kroger Co. is One of the World's Largest Grocery Retailers.
Source: Eric Glenn /

Kroger (NYSE:KR) is another value name with off-and-on meme popularity, but the main subject at hand with the grocery store chain operator’s shares of course has been its pending merger with Albertson’s (NYSE:ACI).

More specifically, the intense regulatory scrutiny this mega-merger is receiving from the Federal Trade Commission. More recently, however, KR Stock has been trending higher. In large part, due to increased confidence that this proposed transaction will get the green light from regulators.

As the two companies now plan to expand their pre-merger divestitures, analysts like Roth MKM’s Bill Kirk argue there’s now a much higher chance that the deal will go through. If the deal is approved, it could produce as much as $1 billion in annual cost savings for the combined company. This in turn could serve as an additional needle-mover for KR, which trades for only 12.1 times forward earnings.

Nokia (NOK)

a backdrop featuring the Nokia logo with a mobile phone featuring the Nokia logo on its screen in the foreground
Source: rafapress /

Among the “original meme stocks” of 2021, Nokia (NYSE:NOK) definitely belongs in the category of value meme stocks to buy. At current prices, shares in the Finnish telecom equipment giant trade for only 9.8 times forward earnings.

Yes, there’s a good reason why NOK stock is so cheap. Since its meme glory days, Nokia has arguably been a value trap, with shares sinking lower as lackluster growth and falling profitability dashed hopes of a full turnaround for the company. That said, while a value trap in the recent past, this bad reputation could soon change.

At least, based on Nokia’s latest guidance, which calls for its business to experience a big rebound during the second half of this year. If this rebound plays out, giving credence to 2024 and 2025 earnings forecasts, this undervalued meme stock could surge higher, as investors re-rate it to the upside.

U.S. Steel (X)

Steel stocks: rods, bars and other forms of steel
Source: Shutterstock

U.S. Steel (NYSE:X) is another name that in years past has briefly been a meme stock, but more recently has made headlines for a much different reason. U.S. Steel late last year agreed to be acquired by Japan’s Nippon Steel (OTCMKTS:NPSCY).

This proposed acquisition is quite historic, considering that U.S. Steel was once America’s largest corporation. Not surprisingly, this deal is getting a heap of scrutiny, from antitrust regulators, labor unions, and even from President Biden.

Yet even if this $55 per share bid for $36 per share X stock may have a long-shot chance of getting approved, U.S. Steel may be worthy of a buy. With the deal spread so high, downside risk from Nippon Steel scrapping the deal may be minimal. Trading for only 10.9 times forward earnings, a U.S.-based competitor may decide to bid for this undervalued steelmaker.

On the date of publication, Thomas Niel did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Thomas Niel, contributor for, has been writing single-stock analysis for web-based publications since 2016.

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