Question for JWs on the Memorial

[Berean]

Today, all around the world Jehovah's Witnesses will be gathering in Hal k s and rented rooms to observe the Memorial aka passover / communion. Most JWs do not partake of the bread and wine as they believe ONLY 144,000 are spirit-begotten and going to heaven.

My question (and this isn't a trick question, I really want to understand their reasoning), in 1 Corinthians 11:26 we read the Lord's words

26  For whenever you eat this loaf and drink this cup, you keep proclaiming the death of the Lord,x until he comes.

If the Lord returned in 1914 as taught by Jehovah's Witnesses, why do you still observe the Memorial?

Thanks for your input.