Beware of these small-cap stocks, up more than 1,000% since the pandemic bottom, says BTIG

Published Mon, Mar 29 20211:33 PM EDTUpdated Mon, Mar 29 20212:53 PM EDT

BTIG is warning investors about a handful of small-cap winners that could get left behind in the weeks ahead. The Wall Street firm made a list of "Top 1%ers," which includes any stock in the Russell 2000 that is up at least 1,082% since last March. The Russell 2000 is up more than 90% in the past year, just a week after the anniversary of the March 23 pandemic low. The small-cap benchmark has nearly doubled as investors bet on smaller, beaten down names from coronavirus crisis to lead the economic rebound. BTIG is waving the flag that the index might have gone too far. "The [Russell 2000] move has been breathtaking, perhaps overly so," chief equity and derivatives strategist at BTIG Julian Emanuel told clients. "We highlight stocks in the Russell 2000 which are 'The Top 1%ers' of performance since 3/23/20, up at least 1,082%, as potential laggards in the weeks ahead," added Emanuel. Take a look at the list here. Overstock.com and Tupperware Brands have rallied more than 1,600% since last March. The pair were major beneficiaries from the Covid-19 lockdowns with millions of Americans stuck in their homes. Cassava Sciences and Veritone are also on BTIG's list. GameStop has rallied the most since last March, returning a whopping 5,071.4% in the 12 months since the March 23, 2020 low. Earlier this year, an epic short squeeze in the company's stock shocked Wall Street and drew attention to an emerging class of retail investor on social media platforms like Reddit. GameStop's share price skyrocketed to $483 per share before cratering. The controversy drew the attention of Wall Street and Washington . Last week, GameStop reported earnings that disappointed investors, with little information on the brick-and-mortar video game retailer's turnaround. Penn National Gaming is up 1,326.8% since March 23, 2020, largely on investor hopes about the sporting gambling market. Penn National also got a boost after making a partnership with Barstool Sports. Novavax, At Home Group, Matador Resources and Nautilus also made BTIG's list. — with reporting from CNBC's Michael Bloom.

Overstock is one online retailer offering bitcoin deals.

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BTIG is warning investors about a handful of small-cap winners that could get left behind in the weeks ahead.