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

Photo illustration by Jakub Porzycki/NurPhoto via Getty Images

• Reddit's Wall Street Bets forum entered the mainstream during the January GameStop craze.
• From GameStop to AMC Entertainment, retail investors congregating on the subreddit are a driving force in the stock market.
• These are the 10 most popular stocks Wall Street Bets is talking about right now.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

This year, it has paid to follow what stocks Reddit's Wall Street Bets crowd is talking about, as several have gone through epic rallies, along with 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 dollars 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. Many meme stocks have seen accelerating declines, with AMC Entertainment and GameStop both down more than 40% 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 that Reddit's Wall Street Bets forum is focused on right now, according to data compiled by SwaggyStocks. The list is based on mentions over the past 24 hours.

10. Clover Health

Ticker: CLOV
Wall Street Bet Mentions Over Past 24 Hours: 93
Market Capitalization: $3.40 billion
1-Week Performance: -5.9%

Clover Health president and chief technology officer Andrew Toy

Clover Health

9. AMC Entertainment

Ticker: AMC
Wall Street Bet Mentions Over Past 24 Hours: 95
Market Capitalization: $17.2 billion
1-Week Performance: -2.7%

Noam Galai/Getty Images

8. Corsair

Ticker: CRSR
Wall Street Bet Mentions Over Past 24 Hours: 108
Market Capitalization: $2.5 billion
1-Week Performance: -2.0%

A Corsair K95 Platinum mechanical gaming keyboard.

Neil Godwin/PC Gamer Magazine/Future via Getty Images

7. Apple

Ticker: AAPL
Wall Street Bet Mentions Over Past 24 Hours: 116
Market Capitalization: $2.42 trillion
1-Week Performance: -0.9%

An Apple store employee in New York.

Mark Lennihan/AP Photo

6. Alibaba

Ticker: BABA
Wall Street Bet Mentions Over Past 24 Hours: 185
Market Capitalization: $443.4 billion
1-Week Performance: -13.9%

An office building of Alibaba Group is pictured on August 10, 2021 in Zhengzhou, Henan Province of China.

Li Qingsheng/VCG via Getty Images

5. ContextLogic

Ticker: WISH
Wall Street Bet Mentions Over Past 24 Hours: 221
Market Capitalization: $4.8 billion
1-Week Performance: -11.1%

Wish CFO Rajat Bahri.

Wish

4. Amazon

Ticker: AMZN
Wall Street Bet Mentions Over Past 24 Hours: 222
Market Capitalization: $1.62 trillion
1-Week Performance: -3.0%

Shannon Stapleton/Reuters

3. Microsoft

Ticker: MSFT
Wall Street Bet Mentions Over Past 24 Hours: 264
Market Capitalization: $2.20 trillion
1-Week Performance: 3.6%

Microsoft delivers strong earnings.

Cindy Ord/Getty Images

2. Nvidia

Ticker: NVDA
Wall Street Bet Mentions Over Past 24 Hours: 310
Market Capitalization: $486.5 billion
1-Week Performance: 1.0%

Nvidia logo is seen displayed on an Android mobile phone.

Omar Marques/SOPA Images/LightRocket via Getty Images

1. Tesla

Ticker: TSLA
Wall Street Bet Mentions Over Past 24 Hours: 667
Market Capitalization: $648.7 billion
1-Week Performance: -5.6%

Associated Press

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Contributer : Business Insider https://ift.tt/3gkI551

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