As the Reddit IPO nears, there are concerns in the market that Redditors will flock to the stock and drive the valuation and price up on hype alone, much like AMC Entertainment Holdings, Inc. While Reddit investors and the decade-old WallStreetBets forum has been criticized for creating meme stocks and driving up the prices of neglected stocks to insane levels, it shows the magnitude of influence that the Reddit community holds in the market.
In 2021, the forum reported more than 100,000 active communities and there were over 430 million monthly active users. Reddit investors have changed the face of retail investing, and the community has proven to be a resilient force in the stock market. Reddit's WallStreetBets is famously referred to as the “GameStop Kingmaker”. (NYSE: GME) short squeeze led to losses worth billions of dollars for the hedge fund managers who bet against the stock. WallStreetBets came into the spotlight during 2021, when the GameStop Corp. WallStreetBets is perhaps the most active investing forum on Reddit, where retail investors frequently discuss their latest calls, celebrate their gains, and bemoan their losses.
If you want to see some more stocks in this selection, click 5 Reddit WallStreetBets Stocks That Are Rising. Zoom Video shares closed 3.8% lower in Friday’s trading at $383.47.In this article, we discuss 10 Reddit WallStreetBets stocks that are rising. Price Action: AMD shares closed almost 2% lower in Friday’s trading at $110.11, while Snap closed 1.7% lower at $75.98.
In July, Snap reported better-than-expected results for the second quarter and also said it has made significant progress with its augmented reality platform during the quarter. Tech companies such as Snap and Zoom Video have benefited from the pandemic that drove people online. The fund uses AI technology to automatically search for patterns that have the potential to produce excess returns and construct actively managed portfolios.ĪMOM has delivered year-to-date returns of 16.6%, compared to its benchmark – the Invesco S&P 500 Momentum ETF SPMO – which has returned 16.4% so far this year.ĪMD is seeing high interest from retail investors and was the fifth-most discussed stock on Reddit’s r/WallStreetBets forum as of Sunday night. stocks and reweighs its holdings each month. Why It Matters: AMOM, a product of South Korea-based fintech group Qraft, tracks 50 large-cap U.S. Prior to the rebalancing, the ETF had Fortinet, Match Grop, O’Reilly, AutoZone and Kroger as its five largest stock holdings.
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