What happened Shares of Newegg Commerce (NASDAQ: NEGG) had fallen more than 16% by noon on Monday, continuing the pullback from the highs that the online consumer-tech retailer reached last week as options trading became available on the recent IPO, but were in short supply. So what Newegg is a top online destination for computer components, consumer electronics, peripherals, and smart-home and gaming products. The company just went public via a reverse merger with a special purpose acquisition company, or SPAC. It seemed to garner meme stock status almost immediately, and it soared over 1,000% very quickly. Image source: Getty Images. Yet there was no fundamental basis for the run-up in its shares, and having them return to earth rather quickly is to be expected. Even so, the stock remains up 167% from where it started last week, but investors shouldn't be surprised to see it go lower still. Now what Newegg has a solid retail history and reputation, so this isn't some fly-by-night penny stock. The long-term growth story is likely just as solid, but not at any price, and investors should wait for Newegg's stock to return to more-reasonable and rational levels before they consider buying the online retailer. 10 stocks we like better than Newegg Commerce, Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Newegg Commerce, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Rich Duprey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source