Meme-stocks GameStop and AMC top 10 most talked about stocks on Reddit's WallStreetBets forum
- Reddit's WallStreetBets forum entered the mainstream at the beginning of 2021 during the GameStop craze.
- Driving stocks like GameStop and AMC, retail investors congregating on the subreddit are a force in the stock market.
- These are the 10 most popular stocks WallStreetBets is talking about right now.
Following which stocks Reddit's WallStreetBets crowd is talking about was a tactic that paid off handsomely in 2021, as several have gone through epic rallies and heightened volatility.
From GameStop to AMC Entertainment, the more than 11 million-member forum has driven the conversation in so-called meme stocks that have exploded higher amid overwhelming demand from retail investors. The surge in 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, driven in part by the WallStreetBets crowd, led to a more than 50% drawdown in multibillion-dollar hedge fund Melvin Capital. Meanwhile, the sharp rally in struggling movie theater chain AMC Entertainment caused billions of dollars in losses for short-sellers in May and June.
But since those short-squeezes caused destruction for some short sellers, shares of GameStop and AMC Entertainment have fallen by about 60% from their record highs as investors begin to confront the fundamental backdrop behind the companies.
As traders look to replicate the success of WallStreetBets 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, and financial data is sourced from Koyfin.
10. Meta Platforms
Ticker: FB
WallStreetBets Mentions Over Past 24 Hours: 124
Market Capitalization: $508 billion
One-Week Performance: -1.0%
9. Cloudfare
Ticker: NET
WallStreetBets Mentions Over Past 24 Hours: 152
Market Capitalization: $27.3 billion
One-Week Performance: -7.0%
8. Amazon
Ticker: AMZN
WallStreetBets Mentions Over Past 24 Hours: 159
Market Capitalization: $1.44 trillion
One-Week Performance: 7.9%
7. Nio
Ticker: NIO
WallStreetBets Mentions Over Past 24 Hours: 160
Market Capitalization: $21.7 billion
One-Week Performance: -19.7%
6. AMC Entertainment
Ticker: AMC
WallStreetBets Mentions Over Past 24 Hours: 194
Market Capitalization: $7.0 billion
One-Week Performance: -11.4%
5. SoFi Technologies
Ticker: SOFI
WallStreetBets Mentions Over Past 24 Hours: 194
Market Capitalization: $6.6 billion
One-Week Performance: -16.8%
4. Apple
Ticker: AAPL
WallStreetBets Mentions Over Past 24 Hours: 374
Market Capitalization: $2.45 trillion
One-Week Performance: -2.2%
3. Tesla
Ticker: TSLA
WallStreetBets Mentions Over Past 24 Hours: 591
Market Capitalization: $769.6 billion
One-Week Performance: -3.4%
2. Alibaba
Ticker: BABA
WallStreetBets Mentions Over Past 24 Hours: 664
Market Capitalization: $210.8 billion
One-Week Performance: -22.3%
1. GameStop
Ticker: GME
WallStreetBets Mentions Over Past 24 Hours: 1,270
Market Capitalization: $6.0 billion
One-Week Performance: -21.0%
