These Reddit Stocks Have Scared Away Many Short Sellers Following Their Massive Squeeze.
Finding Reddit stocks to buy has become a popular strategy for many retail investors. If you’re thinking of riding the next meme stock mania, you could find a lot of information online as there are many subreddits dedicated to the stock market. However, it is also important to note that volatility is high when it comes to these popular meme stocks.
With Reddit stocks frequently mentioned on social media, investors need to understand the risks and volatility that come with these stocks. Of course, with GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC) having so much success recently, Reddit’s growing army of retail investors are also seeking new profit opportunities. And some people who nabbed these unlikely winners at the right times enjoyed massive gains.
Investing in meme stocks is an extremely risky endeavor, and we probably have yet to see the last of them. If you’re a day trader, you may want to consider approaching these top Reddit stocks with the right expectations. More importantly, Reddit stocks’ rallies lasted nine trading days from the start to their first big drop during the initial frenzy in January, according to a CNBC analysis. With all that being said, do you have this list of top Reddit stocks to watch in the stock market today?
Reddit Stocks To Watch In The Stock Market
- Clean Energy Fuels Corp. (NASDAQ: CLNE)
- Invesco Mortgage Capital Inc (NYSE: IVR)
- Tilray Inc. (NASDAQ: TLRY)
- Clover Health Investments Corp. (NASDAQ: CLOV)
- Bed Bath & Beyond (NASDAQ: BBBY)
Clean Energy Fuels
Clean Energy Fuels is a leading provider of clean fuel for the transportation market. It provides renewable natural gas (RNG), which is derived from biogenic methane produced by the breakdown of organic waste. The company can also deliver RNG through compressed natural gas or liquefied natural gas to its network of fueling stations across the U.S. But perhaps more importantly, Clean Energy Fuels is one of the latest hot Reddit stocks to watch this week.
CLNE stock closed 31.52% higher on Wednesday’s trading session as the meme trade gathered momentum. It had already risen 22% over the prior week before Wednesday’s action. The company may have a lot of exciting growth opportunities in renewable biofuels and natural gas fueling, but we know it’s going to take time not only for its project to materialize but also for user adoption to increase. Until then, CLNE stock will be a volatile clean energy stock that may be prone to wild swings depending on how popular it is among Reddit traders.
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Invesco Mortgage Capital
Another popular Reddit stock to watch this week is Invesco Mortgage Capital. It seems that retail traders are deciding that the REIT is the next meme stock to explode in the stock market. IVR stock rose more than 17% on Wednesday’s trading, touching its highest level in almost a year. With a big short interest in IVR stock, some posts suggest the stock could be a short-squeeze candidate.
With the increasing mentions of IVR stock on the r/WallStreetBets subreddit, the likelihood of a Reddit tidal wave goes up. There was even a poster diving deep into Invesco Mortgage Capital, saying how the housing bubble will in fact aid mortgage REITs. With inflation risks as a threat to the demand in the housing market, it’s no secret that IVR stock is prone to any material changes in the interest rates. Meanwhile, retail traders seem to be bidding up IVR stock, catalyzing a squeeze in the stock market this week.
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Tilray
Following that, we will be looking at Tilray Inc. The Ontario-based cannabis giant is a leading name in the global marijuana industry now. Thanks to its recent merger with fellow cannabis company Aphria, it is now the world’s largest cannabis company by revenue. If you share the sentiment that the U.S. marijuana market will open to Canadian companies in the near future, could now be a good time to bet on Tilray stock?
Recently, the company launched Symbios, its newest medical cannabis brand. According to Tilray, Symbios will serve to provide a wider array of “formats and unique cannabinoid ratios” at more affordable price points. This would include medical patients getting access to products such as dried flowers and oils among others. It appears that while the recreational cannabis market continues to expand, Tilray is not neglecting its medical portfolio as well. Would all this make TLRY stock a top Reddit stock to buy now?
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Clover Health Investments
Coming up next, another company to ride the Reddit-fueled meme stock is Clover Health. Over the past month, CLOV stock has surged more than 100%. The company’s shareholders include charismatic investor Chamath Palihapitiya. Clover has been a wild ride since it went public via a SPAC earlier this year. For those unfamiliar, the company operates as a next-generation Medicare Advantage insurer. Clover offers health insurance services to America’s seniors through its proprietary software platform, the Clover Assistant.
Through its platform, the company empowers physicians with data-driven, personalized insights at the point of care. While the recent rally has a lot to do with the short-squeeze from Reddit traders, the company’s next near-term catalyst is a new payment model sponsored by the Centers for Medicare & Medicaid Services that launched in April. Notably, the company expects this venture to generate $20 to $30 million in revenue this year. If you believe in the long-term potential of this health insurance disruptor, should you buy CLOV stock as it dips?
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Bed Bath & Beyond
Bed Bath & Beyond (BBBY) is probably one of the companies on the list with stronger fundamentals. The company is an omnichannel retailer that sells a wide assortment of merchandise. Specifically, its products are for the Home, Baby, Beauty, and Wellness markets. Earlier this month, the company announced that it will launch three new Owned Brands this quarter, continuing the execution of its biggest product assortment change in a generation to rebuild its authority in the $180 billion home market.
Late last month, the company also announced that it has strengthened its same-day delivery services in the U.S. through a partnership with DoorDash (NYSE: DASH), making it easier and more convenient than ever to shop for its products. Through this partnership, it will expand BBBY’s same-day delivery to over 3,000 additional ZIP codes across the country. Seeing the scale of this partnership, will you consider buying BBBY stock?
