Peloton, the most cited meta-platforms
- Reddit’s WallStreetBets forum entered the mainstream in early 2021 during the GameStop craze.
- Driving stocks like GameStop and AMC, the retail investors who congregate on the subreddit are a force in the stock market.
- These are the 10 most popular stocks that WallStreetBets is talking about right now.
- Sign up here for our daily newsletter, 10 things before the opening bell.
Following which the actions that Reddit’s WallStreetBets crowd are talking about paid off in 2021 as several went through epic rallies and escalated
volatility
.
From GameStop to AMC Entertainment, the forum of more than 11 million members has fueled the conversation about so-called meme stocks that have exploded amid overwhelming demand from retail investors. The surge in stocks with fragile fundamentals has led to several hedge fund outbursts that have been taken on the opposite side of the trade bet against the company in question.
GameStop’s short squeeze, driven in part by the WallStreetBets crowd, caused multibillion-dollar hedge fund Melvin Capital to drop more than 50%. Meanwhile, the strong recovery of struggling movie theater chain AMC Entertainment caused short sellers billions of dollars in losses in May and June.
But since those short cuts caused the destruction of some short sellers, shares of GameStop and AMC Entertainment have fallen about 60% from their highs as investors begin to grapple with the fundamental backdrop behind the businesses.
As traders look to replicate the success of WallStreetBets stocks, a data aggregator compiles the most mentioned stocks on Reddit’s forum.
These are the top 10 stocks Reddit’s WallStreetBets forum is currently focusing on, according to data compiled by SwaggyStocks. The list is based on mentions from the last 24 hours and the financial data comes from Koyfin.
10.Snap Inc.
Symbol: SNAP
Mentions of WallStreetBets in the last 24 hours: 241
Market cap: $38.4 billion
One-week performance: 11.6%
BigTuna Online/Shutterstock
9. Apple
Symbol: AAPL
Mentions of WallStreetBets in the last 24 hours: 269
Market cap: $2.81 billion
One-week performance: 0.2%
An Apple store.
Spencer Platt/Getty Images
8. Acquisition of the digital world
Symbol: DWAC
Mentions of WallStreetBets in the last 24 hours: 392
Market cap: $3.1 billion
One-week performance: -1.2%
President Donald Trump waves as he boards Marine One at the White House in Washington, DC on January 20, 2021.
MANDEL NGAN/AFP via Getty Image
7.Nvidia
Symbol: NVDA
Mentions of WallStreetBets in the last 24 hours: 407
Market cap: $608.7 billion
One-week performance: 1.5%
Nvidia Headquarters in Santa Clara, CA
Justin Sullivan/Getty Images
6.Tesla
Symbol: TSLA
Mentions of WallStreetBets in the last 24 hours: 465
Market cap: $911.2 billion
One-week performance: -0.8%
Associated press
5.Pfizer
Code: PFE
Mentions of WallStreetBets in the last 24 hours: 484
Market cap: $300.8 billion
One-week performance: -2.9%
Carlo Allegri/Reuters
4.GameStop
Symbol: GME
Mentions of WallStreetBets in the last 24 hours: 494
Market cap: $7.5 billion
One-week performance: 2.2%
John Smith/VIEWpress/Getty Images
3. Chegg
Symbol: CHGG
Mentions of WallStreetBets in the last 24 hours: 570
Market cap: $3.7 billion
One-week performance: 14.9%
Chegg study
2. Metaplatforms
Symbol: FB
Mentions of WallStreetBets in the last 24 hours: 1,910
Market cap: $627.4 billion
One-week performance: -30.7%
Facebook was renamed Meta Platforms in October 2021 to reflect a shift in focus towards building its own metaverse.
Noah Berger/AFP via Getty Images
1. Platoon
Symbol: PTON
Mentions of WallStreetBets in the last 24 hours: 2,070
Market cap: $9.6 billion
One-week performance: 36.4%
Peloton reduced the price of their bike but the approach bore little fruit.
Michael Loccisano/Getty Images