- Reddit WallStreetBets is a social media community for stocks-related discussion.
- The short squeeze of GME and AMC had led to massive losses of hedge fund managers stocks earlier this year.
- Root, Inc. (NASDAQ: ROOT) received the highest mentions, with 277 Its market capitalization is US$1.6 billion.
Reddit.com’s enormous influence in shaping the trend of preferred stock is well-known. Reddit’s WallStreetBets forum, popular among retail investors, continues to dominate headlines. Such is its effect that it can change the fortunes of a particular stock within a few days.
The Reddit “army’s” famed push for GameStop Inc and AMC Entertainment stocks early this year, dubbed the meme rally, is perhaps still fresh in people’s memory. The forum sentiments can push a stock price higher regardless of the company’s intrinsic value. For instance, the short squeeze of GME and AMC stocks had led to massive losses of hedge fund managers earlier this year. In contrast, followers of the forum were able to book profits from the rally.
Here we discuss the top 10 stocks drawing maximum attention from investors in the last twenty-four hours to Monday evening on the Reddit forum, according to swaggystocks.com.
Source – pixabay
Root, Inc. (NASDAQ: ROOT)
ROOT received 277 mentions on the forum. The company develops personal automobiles insurance and renters’ insurance. The Columbus, Ohio-based mobile technology company has a market capitalization of US$1.6 billion.
The stock’s 52-week highest and lowest prices were US$29.48 and US$5.19, respectively. Its share volume was 10,122,970 on Aug 27, and it closed at US$6.4 on Friday.
The ROOT stock gave around 37% return YTD.
Alibaba Group Holding Limited (NYSE: BABA)
BABA has received 142 mentions on the site. Alibaba is one of the largest e-commerce companies globally. This Hangzhou, China-based conglomerate has a market capitalization of US$432 billion and a P/E ratio of 19.43.
Its share volume was 31,718,050 on Aug 27 compared to 18,816,500 on the previous day (Aug 26). The stock’s 52-week highest and lowest prices were US$319.32 and US$152.80, respectively. BABA stock fell 30.45% YTD. It closed at US$159.47 last Friday.
Also Read: Six value stocks to watch in September
GameStop Corporation (NYSE: GME)
GameStop was mentioned 103 times on the forum. GME provides consumer electronics, video games, and related consumer services. The Grapevine, Texas-based company has a market capitalization of US$15.9 billion and a forward P/E ratio one-year ratio of 10247.50.
Its last 52-weeks highest price was US$483.00, and the lowest was US$5.21. The share volume was 3,230,804 on Aug 27. Its YTD return is 1025.90%. The stock closed at US$204.95 on Aug 27.
Apple Inc. (NASDAQ: AAPL)
Apple got 87 mentions in 20 hours. The technology company has a market capitalization of US$2.6 trillion. Apple is based in Cupertino, California, and has a P/E ratio of 29.7.
The 52-week highest and lowest stock prices were US$151.68 and US$103.10, respectively. The share volume on Aug 27 was 55,802,390. The stock gave a 14.83% return YTD and closed at US$148.6 last Friday.
AMC Entertainment Holdings, Inc. (NYSE: AMC)
AMC was mentioned 97 times in the last 24-hours to Monday evening. The company operates a theatre business. Its market cap is US$22.5 billion. AMC is headquartered in Leawood, Kansas.
The company’s share volume was 72,507,380 on Aug 27. Its 52-week highest and lowest stock prices were US$72.62 and US$1.91, respectively. The stock closed at US$40.84 on Aug 27 and gave around 1974.06% return YTD.
Tesla, Inc. (NASDAQ: TSLA)
Tesla was mentioned 79 times. The company is known for its electric vehicles. The company has a market capitalization of US$725 billion and a P/E ratio of 377.17.
The share volume on Aug 27 was 13,833,760. Its 52-week highest and lowest stock prices were US$900.40 and US$329.88, respectively. The stock closed at US$711.92 last Friday. The YTD return on the stock is 2.71%.
NVIDIA Corporation (NASDAQ: NVDA)
Nvidia was mentioned 89 times in 24 hours. The semiconductor company designs graphic processing units for computing platforms. Its market cap is US$565 billion, and its P/E ratio is 80.56.
The 52-week highest and lowest stock prices were US$227.22 and US$115.67, respectively. The trading volume was 30,472,220 on Aug 27. The stock gave a 73.58% return YTD. It closed at US$226.36 last Friday.
Source – pixabay
ContextLogic Inc. (NASDAQ: WISH)
The stock was mentioned 84 times. WISH is an online shopping store and provides clothing, accessories, plastic products, gaming equipment, and other products. The California-based company has a market capitalization of US$4.6 billion.
The 52-week highest and lowest stock prices were US$32.85 and US$6.14, respectively. The trading volume was 30,969,020 and the stock price was US$6.94 on Aug 27. The stock fell 59.95% YTD.
Globalstar, Inc. (AMEX: GSAT)
GSAT is a telecommunication company that provides mobile satellite services. The company is based in Covington, Louisiana, and has a market capitalization of US$3.7 billion. GSAT got 84 mentions in 24 hours. Its 52-week highest and lowest stock prices were US$2.98 and US$0.29, respectively. The stock closed at US$1.43 with a share volume of 6,450,618 on August 27. Its YTD return is 508.39%.
Amazon.com, Inc. (NASDAQ: AMZN)
The stock was mentioned 83 times in 24 hours. The online retailer and e-commerce company has a market cap of 1.7 trillion. Amazon is based in Seattle, Washington, and has a P/E ratio of 59.7. Its trading volume and closing price on Aug 27 were 2,402,369 and US$3349.63, respectively. Its 52-week highest and lowest prices were US$3,773.08 and US$2,871.00, respectively. The stock gave around 5.31% return YTD.
Some Reddit stocks are volatile in nature and rally after a social media-led frenzy. Hence, investors must choose stocks wisely and evaluate further before investing.