The COVID-19 epidemic was a major player in this tale. In 2020, more than ten million Americans will have established a brokerage account. Nearly six million Americans downloaded an online trading program in January 2021, at the height of a GameStop short squeeze crisis. These small-time investors plan their moves on social media sites like Reddit. Around Wall Street, Reddit communities have grown in popularity. Last year, individual investors accounted for more than 20% of total stock trading. Apple Inc., AMD, Tesla, and Chewy, Inc. are among the top trending stocks on Reddit.
Here is Insider Monkey’s list of the 10 trending stocks on Reddit. Tattooed Chef, Inc. is ranked tenth. The company is based in California and sells plant-based cuisine. Seven hedge funds have interests in the company worth $38 million at the end of the second quarter of 2021. Lithium Americas Corp. is rated ninth. The corporation is based in Canada and operates as a resource company. With 408,130 shares worth more than $6 million, Axel Capital Management is the largest stakeholder. McAfee Corp. is a provider of comprehensive security solutions based in California. It is ranked eighth on the list of Reddit’s top ten trending stocks. McAfee Corp.’s stock has a Buy recommendation from Mizuho, with a $30 price target. SmileDirectClub, Inc. came in seventh. 19 hedge funds in Insider Monkey’s database had positions in SmileDirectClub totaling $135 million at the end of the second quarter of 2021. DTE Energy Company is ranked sixth. Electricity is generated and distributed by the company. Mizuho kept its Buy rating on the stock and boosted its price target from $123 to $126. For more details, click 10 Trending Stocks on Reddit.
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