Meme stocks are a contentious topic. 

Many traditional investors criticizing the lack of solid business fundamentals for supporting previous rapid increases in stock prices. 

Others suggest that companies with a speculative nature should see rapid movements. It’s all part of the investing game, and if short-sellers get caught flat-footed, so be it.

The past two years have seen some incredible short-squeezes in the meme stocks I’m going to discuss. They may elicit emotional responses from readers.

That said, the question remains, even for more conservative investors. If a bull market is on the horizon, are these stocks worth picking up, if financial markets become more friendly to investors?

Now, I’m not the most bullish investor on any of these names. But I’ll try to point out some of the positive and negative catalysts for each stock that investors should watch right now.

Bed Bath & Beyond (BBBY)

Bed Bath & Beyond (NASDAQ:BBBY) is considered one of the riskier stocks in the market. Much of this has to do with the company’s high short interest. However, in the past, this high short interest has created meme-like short squeezes, which may entice retail investors. 

Sure, this stock is risky. Bed Bath & Beyond is burning cash at a rapid rate, laying off workers, and closing stores. 

However, the company’s stock price has done some incredible things in the past few months, surging to around $6 per share, and settling down to around 35 cents at the time of writing.

Bed Bath & Beyond’s management team has acknowledged the company’s stock price, which is currently below $1, and has scheduled a special meeting of stockholders for May 9. 

The results of shareholder votes on a proposal to implement a reverse stock split will be announced at the meeting. The ratio being considered for the reverse stock split is between 1-for-10 and 1-for-20.

During Bed Bath & Beyond’s upcoming special meeting of stockholders on May 9, they will vote on a proposal for a reverse stock split with a ratio between 1-for-10 and 1-for-20. If the motion cannot obtain the necessary number of authorization votes, investors can vote to call off the proceedings. 

Thus, the outcome of this vote will likely determine whether the stock remains listed or not, a key catalyst one way or the other.

GameStop (GME)

Rather than being driven by speculation and online chatter from meme stock enthusiasts, GameStop’s (NYSE:GME) significant stock price increase in March came from strong quarterly results. 

The company exceeded earnings expectations, which was met with a positive reaction from investors who pushed the stock price up.

GameStop announced its financial results for the fiscal fourth quarter and fiscal year on Mar. 21. While the video game retailer’s total revenue saw a slight year-over-year dip, its earnings of 16 cents per share surpassed expectations. This marked a total return to profitability, which was not expected for several quarters.

Even though GameStop now is a successful firm according to its administration, it’s possible that the company’s accomplishments are not entirely the result of its initiatives. 

The rise in computer game equipment sales has been a significant factor, but it could decrease over the upcoming months, resulting in a drop in sales.

Although GameStop had a strong quarter, the actual narrative surrounding the company remains the same. Thus, I’m remaining cautious with respect to GME stock right now.

AMC Entertainment (AMC)

AMC Entertainment (NYSE:AMC) has had a rough few weeks. This stock declined precipitously, after reaching a legal settlement around converting AMC Preferred Shares (NYSE:APE) to common stock. Even though APE has held up relatively well, AMC stock has seen more broad declines.

Currently, it appears the negative impact of the APE settlement announcement overshadows any positive developments for the company. While the stock has made up most of its losses from this announcement, the precipitous drop could be enough to scare away many conservative investors from speculating in this stock.

Now, most conservative investors may not be interested to begin with. This is a stock to buy for those who aren’t scared of losing it all.

However, AMC’s ongoing financing issues and potential cash burn for some time, could lead to continued dilution and further downward pressure.

That said, if the company is able to find a way to keep its share count steady for a given period of time, anything’s possible. The AMC community appears strong, so it’s difficult to rule anything out at this point.

On the date of publication, Chris MacDonald did not have (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 InvestorPlace.com Publishing Guidelines.