Redditors have loved meme stocks for a few years. GME and AMC in particular have been hugely popular on Reddit since shortly before GME’s meteoric rise in January 2021. Over the month, the stock went from $17.25 to a peak of $483 before dropping.
At least a few meme stocks such as GME, AMC, BBBY, BB, KOSS, and NOK trend on Reddit at any given time. For the uninitiated, these tickers translate to Gamestop, AMC Theatres, Bed, Bath & Beyond, Blackberry, Koss, and Nokia. Which ones are most prominent on a specific day depends on factors such as the options chain, recent stock price increases and decreases, earnings, recent large investors, and big company news.
You can find meme stock discussions on subreddits such as Wallstreetbets, Superstonk, Amcstock, and BBBY. The stocks are popular because of their perceived squeeze potential.
Retail investors feel like they can make a huge amount of money and fight fraud at the same time. “The dip is over, buy now or be left behind!” is a common sentiment on Reddit as is, “Only paper hands sell now, we're only in the beginning 🚀🚀.” If you’d like to start investing today, Alinea is a newbie-friendly app to get you going as soon as possible.
TSLA, AAPL, and AMZN (Tesla, Apple, and Amazon) are among the stocks that generate a lot of discussion on Wallstreetbets and other subreddits. Wallstreetbets Redditors in particular enjoy taking enormous risks, usually with options. TSLA, AAPL, and AMZN are reliable money makers. Exchange-traded funds (ETFs) such as SPY and QQQ are popular on Wallstreetbets as well.
Two subreddits, r/stocks and r/investing, are more sober and serious than subreddits such as Wallstreetbets and Superstonk. The stocks and investing subreddits cover a broad range of stocks, while the other groups limit what is discussed.
Wallstreetbets allows discussion of stocks only if they meet a minimum market cap. Meanwhile, Superstonk allows discussion of just GME, although talking about other stocks is OK most of the time if they relate to GME such as through the meme basket. The meme basket theory holds in part that hedge funds are using certain ETFs to short meme stocks, and these ETFs contain multiple meme stocks. If one stock runs, the others often do not long after (same if one meme stock falls, the others frequently do, too).
Whether you are interested in meme, traditional, tech, penny stocks or another type of stock, Reddit is fertile ground for research, and Alinea is the app for you. It is easy to use and even has social features if you and your friends want to see what the other invests in.
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