In 2021, post covid era online social media platform Reddit became a hub for stock traders. In Reddit there were many communities which discussed stock trading ideas and one such community was Reddit WallStreetBets community. Members part of this community orchestrated targeted buying campaigns in a handful of stocks which were heavily shorted. This triggered huge short squeezes and generated huge volatility in stock prices. These handful of targeted stocks were also called Meme Stocks.
While this was trending the so-called Meme Stocks traded at very high valuations without any fundamentals. These stocks were very volatile and made huge profits for those who entered at the early phase of the run up. Now that the excitement surrounding these stocks have cooled down, most of them are trading well below their highs and some are still highly volatile even tough their underlying business are struggling.
Some of the top stocks that created buzz in Reddit WallStreetBets 2022
- Tesla Inc. (TSLA)
- Netflix Inc. (NFLX)
- Apple Inc. (AAPL)
- GameStop Corp. (GME)
- Meta Platforms Inc. (META)
- Amazon.com Inc. (AMZN)
- Advanced Micro Devices Inc. (AMD)
- Snap Inc. (SNAP)