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Social platform and news aggregator Reddit made national headlines in early 2021 for its role in the volatile movement of “meme stocks” popular among its “subreddit” user communities like WallStreetBets. While some of the movement’s momentum tailed off in February, Reddit is back in the news just months later, as meme trading makes a comeback, and WallStreetBets isn’t the only one moving markets. Here are some of the most popular investing communities on Reddit, including a few you might not have heard of.
James Brumley is former stockbroker with a large Wall Street firm, and a former trading analyst for a small, options-based newsletter. After twenty years of professional experience in and around the market, his approach is one that combines fundamentals, sentiment, and common sense. It's also an approach that respects this John Keynes reality: The market isn't always rational.
Justin loves covering stocks across all industries, but his heart is in high-growth technology. He's been a student of the market for more than a decade. Stocks are his second love to his wife and kids, which is how he spends his free time.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Below is a list of the top 10 most mentioned US stocks on the WallStreetBets thread on Reddit over the last 24 hours on November 30, 2021, according to data from Quiver Quantitative. Exchange-Traded Funds (ETFs) have been excluded.
A short-squeeze does what it says on the tin – it tries to squeeze short-sellers out of their positions. Short-sellers, mostly big institutional investors and hedge funds, bet that the price of a stock will fall but, as retail investors pile in and push the share price higher, they are forced to start buying the stock to try to limit their losses. The buying by the big players only fuels the share price higher.
Shares of software company Support.com shot up 313% in the six trading sessions through Monday and were up more than 1,400% year-to-date. They were down 11.3% on Tuesday afternoon.