These are the 10 most popular stocks on Reddit's WallStreetBets forum

Photo illustration by Jakub Porzycki/NurPhoto via Getty Images

• Reddit's WallStreetBets forum entered the mainstream during the January GameStop craze. 
• Driving stocks like GameStop and AMC Entertainment, 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.
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Following which stocks Reddit's WallStreetBets crowd is talking about this year has paid off, as several have gone through epic rallies and seen heightened volatility. 

From GameStop in January to AMC Entertainment in June, 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, in-part led 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. Robinhood

Ticker: HOOD
WallStreetBet Mentions Over Past 24 Hours: 91
Market Capitalization: $15.7 billion
One-Week Performance: 1.8% 

A pop-up kiosk for Robinhood along Wall Street after the company went public.

Spencer Platt/Getty Images

9. Meta Platforms

Ticker: FB
WallStreetBet Mentions Over Past 24 Hours: 121
Market Capitalization: $973.3 billion
One-Week Performance: 7.0% 

Meta Facebook name change

Facebook

8. Palantir

Ticker: PLTR
WallStreetBet Mentions Over Past 24 Hours: 122
Market Capitalization: $37.6 billion
One-Week Performance: 5.3% 

Palantir HQ.

Picture Alliance/Getty Images

7. Microsoft

Ticker: MSFT
WallStreetBet Mentions Over Past 24 Hours: 136
Market Capitalization: $2.57 trillion 
One-Week Performance: 7.0% 

Microsoft Chief Legal Officer Brad Smith, CEO Satya Nadella, Executive Vice President and CFO Amy Hood, and Board Chairman John Thompson.

Stephen Brashear / Stringer

6. GameStop

Ticker: GME
WallStreetBet Mentions Over Past 24 Hours: 176
Market Capitalization: $11.5 billion
One-Week Performance: -3.9% 

VIEW press/Getty Images

5. Advanced Micro Devices

Ticker: AMD
WallStreetBets Mentions Over Past 24 Hours: 200
Market Capitalization: $184.8 billion
One-Week Performance: 12.6% 

AMD is a leader in the CPU market.

Maximum PC Magazine/Getty Images

4. Nvidia

Ticker: NVDA
WallStreetBet Mentions Over Past 24 Hours: 283
Market Capitalization: $762.5 billion
One-Week Performance: 10.0% 

Nvidia headquarters in Santa Clara, California

Justin Sullivan/Getty Images

3. Amazon

Ticker: AMZN
WallStreetBet Mentions Over Past 24 Hours: 360
Market Capitalization: $1.74 trillion
One-Week Performance: 2.4% 

An Amazon Flex sign

Photo by Artur Widak/NurPhoto via Getty Images

2. Apple

Ticker: AAPL
WallStreetBet Mentions Over Past 24 Hours: 414
Market Capitalization: $2.95 trillion
One-Week Performance: 5.9% 

An Apple store.

Spencer Platt/Getty Images

1. Tesla

Ticker: TSLA
WallStreetBet Mentions Over Past 24 Hours: 1,360
Market Capitalization: $1.09 trillion
One-Week Performance: 20.8% 

Associated Press

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

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