These are the top 10 meme stocks Reddit's Wall Street Bets is talking about right now

Photo illustration by Jakub Porzycki/NurPhoto via Getty Images

• Reddit's Wall Street Bets forum has dominated market headlines in 2021.
• From GameStop to AMC Entertainment, Wall Street Bets has been a force driving many stocks higher.
• These are the top 10 meme stocks Wall Street Bets is looking at right now.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

---

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 .

From GameStop in January to AMC Entertainment last month, the 10.7 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 few weeks, many meme stocks have seen accelerating declines, with AMC Entertainment and GameStop both down about 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 meme stocks Reddit's WallStreetBets forum is focused on right now, according to data compiled by SwaggyStocks. The list excludes mega-cap tech stocks and is based on mentions over the past 24 hours.

10. BlackBerry

Ticker: BB
Wall Street Bet Mentions Over Past 24 Hours: 86
Market Capitalization: $5.9 billion
1-Week Performance: -10%

BlackBerry shareholder

J.P. Moczulski/Reuters

9. Tilray

Ticker: TLRY
Wall Street Bet Mentions Over Past 24 Hours: 97
Market Capitalization: $6.5 billion
1-Week Performance: -14%

A Tilray worker tends to cannabis plants.

Tilray

8. AMC Entertainment

Ticker: AMC
Wall Street Bet Mentions Over Past 24 Hours: 110
Market Capitalization: $18.8 billion
1-Week Performance: -23% decline

Noam Galai/Getty Images

7. Palantir

Ticker: PLTR
Wall Street Bet Mentions Over Past 24 Hours: 122
Market Capitalization: $39.9 billion
1-Week Performance: -7%

Arnd Wiegmann/Reuters

6. Ticker: CRSR
Wall Street Bet Mentions Over Past 24 Hours: 135
Market Capitalization: $2.7 billion
1-Week Performance: -3%

A Corsair K95 Platinum mechanical gaming keyboard.

Neil Godwin/PC Gamer Magazine/Future via Getty Images

5. Clean Energy Fuels

Ticker: CLNE
Wall Street Bet Mentions Over Past 24 Hours: 138
Market Capitalization: $1.5 billion
1-Week Performance: -17%

Clean Energy Fuels

4. Virgin Galactic

Ticker: SPCE
Wall Street Bet Mentions Over Past 24 Hours: 145
Market Capitalization: $8.2 billion
1-Week Performance: -40%

A Virgin Galactic spacecraft attached to its carrier vehicle, WhiteKnightTwo.

Virgin Galactic

3. Clover Health

Ticker: CLOV
Wall Street Bet Mentions Over Past 24 Hours: 188
Market Capitalization: $3.4 billion
1-Week Performance: -11%

Chamath Palihapitiya, Founder and CEO of Social Capital LP, speaks at the Sohn Investment Conference in New York on May 4, 2016.

REUTERS/Brendan McDermid

2. SoFi

Ticker: SOFI
Wall Street Bet Mentions Over Past 24 Hours: 238
Market Capitalization: $12.9 billion
1-Week Performance: -5%

Facebook/SoFi

1. ContextLogic

Ticker: WISH
Wall Street Bet Mentions Over Past 24 Hours: 294
Market Capitalization: $6.2 billion
1-Week Performance: -11%

Wish CFO Rajat Bahri.

Wish

Read the original article on Business Insider

Contributer : Business Insider https://ift.tt/2TdScQQ

Something that you might miss to see?