Photo illustration by Jakub Porzycki/NurPhoto via Getty Images
It’s paid to follow what stocks Reddit’s Wall Street Bets crowd are talking about this year, as several have gone through epic rallies and seen heightened volatility.
From GameStop in January to AMC Entertainment in June, the near 11 million-member forum has driven the conversation in so-called meme stocks that have exploded higher amid overwhelming demand from retail investors. Strong demand for stocks with shaky fundamentals has led to several hedge fund blowups that were caught on the opposite side of the trade betting against the company in question.
GameStop’s short-squeeze, in-part led by the Wall Street Bets crowd, led to a more than 50% drawdown in multi-billion dollar hedge fund Melvin Capital. Meanwhile, the sharp rally in struggling movie theater chain AMC Entertainment caused billions of dollar in losses for short-sellers in May and June.
But while some stocks popular with the Reddit crowd have seen massive gains, some have also seen epic losses. In the past month, many meme stocks have seen accelerating declines, with AMC Entertainment and GameStop both down more than 50% from their June highs.
As traders look to replicate the success of Wall Street Bets stocks, one data aggregator is compiling the most mentioned stocks on Reddit’s forum.
These are the top 10 stocks Reddit’s WallStreetBets forum is focused on right now, according to data compiled by SwaggyStocks. The list is based on mentions over the past 24 hours.
10. McAfee
Ticker: MCFEWall Street Bet Mentions Over Past 24 Hours: 138Market Capitalization: $12.8 billion1-Week Performance: 9%
Carlo Allegri/Reuters
9. Virgin Galactic
Ticker: SPCEWall Street Bet Mentions Over Past 24 Hours: 146Market Capitalization: $7.8 billion1-Week Performance: 2%
A Virgin Galactic spacecraft attached to its carrier vehicle, WhiteKnightTwo.
Virgin Galactic
8. GameStop
Ticker: GMEWall Street Bet Mentions Over Past 24 Hours: 153Market Capitalization: $11.3 billion1-Week Performance: -7%
Queue in front of Gamestop store in Christmas atmosphere in Milan during coronavirus emergency, Milan, Italy, on November 03 2020.
Mairo Cinquetti/NurPhoto/Getty Images
7. Cloudfare
Ticker: NETWall Street Bet Mentions Over Past 24 Hours: 170Market Capitalization: $28.3 billion1-Week Performance: 1%
Computer hacker silhouette
Getty
6. Tesla
Ticker: TSLAWall Street Bet Mentions Over Past 24 Hours: 193Market Capitalization: $688.4 billion1-Week Performance: 6%
Associated Press
5. AMC Entertainment
Ticker: AMCWall Street Bet Mentions Over Past 24 Hours: 251Market Capitalization: $17.3 billion1-Week Performance: -12%
Noam Galai/Getty Images
4. MicroVision
Ticker: MVISWall Street Bet Mentions Over Past 24 Hours: 258Market Capitalization: $2.2 billion1-Week Performance: -3%
MicroVision Lidar rendering.
MicroVision
3. Moderna
Ticker: MRNAWall Street Bet Mentions Over Past 24 Hours: 259Market Capitalization: $163.4 billion1-Week Performance: 19%
Noubar Afeyan at the Moderna IPO.
Flagship Pioneering
2. AMD
Ticker: AMDWall Street Bet Mentions Over Past 24 Hours: 280Market Capitalization: $132.1 billion1-Week Performance: 10%
Brian Ach/Getty Images
1. Robinhood
Ticker: HOODWall Street Bet Mentions Over Past 24 Hours: 1,070Market Capitalization: $42.6 billion1-Week Performance: 46%
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These are the top 10 stocks Reddit’s Wall Street Bets is talking about right now
