WallStreetBets, a Reddit forum, now has over 10.8 million members, up from 1.6 million in December 2020. On January 28, the group added a record 1.5 million members in a single night. Retail investors use this forum to discuss market-related topics. WallStreetBets has developed a reputation for being a hub of activity for meme stocks – companies that offer little in terms of fundamentals but are popular due to internet interest. Tesla, Apple, and Google owner Alphabet are among the most popular stocks on the site.
Here is Insider Monkey’s list of the 10 new Reddit WallStreetBets stocks on the rise. Lithium Americas Corporation ranks tenth on the list of ten new Reddit WallStreetBets stocks to monitor. The company is a resource company based in Canada. Axel Capital Management, based in New York, is a significant shareholder, owning 408,130 shares worth more than $6 million. Penn National Gaming, Inc. came in ninth place on the list of the ten hottest new Reddit WallStreetBets stocks. The company owns and operates gaming and horse racing facilities. Pennsylvania is the state where it is headquartered. Stifel maintained its Buy rating on the stock with a $108 price target. The Beauty Health Company is a California-based aesthetic technology and product marketing company. It is ranked eighth on the list of the ten hottest new Reddit WallStreetBets stocks. Benchmark maintained its Buy rating and increased its price target to $25. Peabody Energy Corporation ranks seventh on the list of the ten hottest new Reddit WallStreetBets stocks. The company is a coal mining operation based in Missouri. B Riley kept its Neutral rating and increased its price target to $11 from $7. Hut 8 Mining Corp. ranks sixth on the list of the ten hottest new Reddit WallStreetBets stocks. The company is based in Canada and is involved in cryptocurrency mining operations. Craig-Hallum initiated coverage with a Buy rating and a $10 price target. For more details, click 10 New Reddit WallStreetBets Stocks On The Rise.
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