- 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.
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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.
Wall Street Bet Mentions Over Past 24 Hours: 86
Market Capitalization: $5.9 billion
1-Week Performance: -10%
Wall Street Bet Mentions Over Past 24 Hours: 97
Market Capitalization: $6.5 billion
1-Week Performance: -14%
8. AMC Entertainment
Wall Street Bet Mentions Over Past 24 Hours: 110
Market Capitalization: $18.8 billion
1-Week Performance: -23% decline
Wall Street Bet Mentions Over Past 24 Hours: 122
Market Capitalization: $39.9 billion
1-Week Performance: -7%
6. Ticker: CRSR
Wall Street Bet Mentions Over Past 24 Hours: 135
Market Capitalization: $2.7 billion
1-Week Performance: -3%
5. Clean Energy Fuels
Wall Street Bet Mentions Over Past 24 Hours: 138
Market Capitalization: $1.5 billion
1-Week Performance: -17%
4. Virgin Galactic
Wall Street Bet Mentions Over Past 24 Hours: 145
Market Capitalization: $8.2 billion
1-Week Performance: -40%
3. Clover Health
Wall Street Bet Mentions Over Past 24 Hours: 188
Market Capitalization: $3.4 billion
1-Week Performance: -11%
Wall Street Bet Mentions Over Past 24 Hours: 238
Market Capitalization: $12.9 billion
1-Week Performance: -5%
Wall Street Bet Mentions Over Past 24 Hours: 294
Market Capitalization: $6.2 billion
1-Week Performance: -11%