Following which Reddit stocks are discussed on WallStreetBets has paid off this year, as some have experienced epic rallies and seen increased volatility.
From GameStop in January to AMC Entertainment in June, a forum with more than 11 million members sparked discussion of so-called meme stocks, which rose sharply amid huge demand from retail investors. The surge in stocks with shaky fundamentals led to several blasts from hedge funds, which were caught on the opposite side of the deal betting against the company in question.
GameStop's underperformance, led in part by the WallStreetBets crowd, led to a drawdown of more than 50% by multi-billion dollar hedge fund Melvin Capital. Meanwhile, a sharp rally in struggling cinema chain AMC Entertainment in May and June led to billions of dollars in losses for short-sellers.
But as these short squeezes have led to the destruction of some sellers, GameStop and AMC Entertainment shares have fallen about 60% from their record highs as investors begin to confront the fundamental backdrop behind the companies.
As traders seek to replicate the success of WallStreetBets shares, one data aggregator is collecting the most mentioned stocks on the Reddit forum.
According to the data collected by SwaggyStocks, these are the top 10 Reddit WallStreetBets forum stocks currently being focused on . The list is based on mentions over the past 24 hours, with financial data sourced from Koyfin.
10. Microsoft
Ticker: MSFT
WallStreetBet Mentions in the Last 24 Hours: 153 Market Capitalization: $2.5 Trillion Weekly Performance: -1.2%
9. Palantir
Ticker: PLTR
WallStreetBet Mentions in the last 24 hours: 166
Market capitalisation: $37.4 billion Performance for
weekly performance: -5.7%
8. Amazon
Ticker: AMZN
WallStreetBets Mentions in the Last 24 Hours: 170
Market capitalization: $1.74 trillion Performance for
weekly performance: -4.7%
7. SoFi Technologies
Ticker: SOFI
WallStreetBet Mentions in the last 24 hours: 179
Market capitalization: $12.3 billion
Performance for the week: -14.2%
6. AMD
Ticker: AMD
WallStreetBet Mentions in the Last 24 Hours: 189
Market Capitalization: $161.0B Performance for
week: -7.0%
5. AMC Entertainment
Ticker: AMC
WallStreetBet Mentions in the Last 24 Hours: 825
Market capitalization: $12.8 billion
Weekly performance: -26.6%
4. Nvidia
Ticker: NVDA
WallStreetBet Mentions in the Last 24 Hours: 833
Market Capitalization: $710.8B Performance for
week: -13.5%
3. Tesla
Ticker: TSLA
WallStreetBet Mentions in the Last 24 Hours: 1,010
Market capitalization: $931.0B Performance for
Weekly performance: -10.5%.
2. GameStop
Ticker: GME
WallStreetBet Mentions in the Last 24 Hours: 1,200
Market capitalization: $10.3 billion
Performance for the week: -24.1%
1. Apple
Ticker: AAPL
WallStreetBets Mentions in the Last 24 Hours: 1,240
Market capitalization: $2.80 trillion Performance for
weekly performance: 3.5%
All of the above top stocks can be traded on https://exness-vietnam.asia/login/ without much of a problem.
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Eleena Timmons