If you are one who prides themselves in staying stock market savvy, then you are well aware of late January’s GameStop stock insanity. How did a struggling video game retailer suddenly move to the forefront of stock traders’ minds?
The answer, though simple, may surprise you: Reddit. The WallStreetBets stocks discussion group spends their days sharing ideas for what to invest in next, and though these conversations alone are not what pushed the GameStop stock up so much, they no doubt played a crucial role.
Bearing that in mind, it would behoove any serious investor to pay attention to what users on online sites, like Reddit and Twitter, are interested in buying and selling. Here is a breakdown of the top seven stocks mentioned on Reddit, according to data collected by Cutt on March 11 of this year.
Top 7 Stocks on Reddit by Mention
GME (GameStop Corp):
Given the uproar buying, trading, and selling stocks of this company caused, it should come as no surprise to you to see the GameStop stock topping our list. The day this data was collected, it garnered a whopping 31,366 total mentions, pulling in an average of 1,828 per hour.
AMC – AMC Entertainment
Next up is entertainment giant AMC. You likely know this company by their theatres that span across the United States and reputation for innovation. The AMC stock ranks number two for most mentioned Reddit stocks, with 14,731 mentions on data collection day and an average of 860 mentions in an hour.
RBLX – Roblox Corp
Number three is gaming site Roblox. The platform is loved by adults and children alike, and with 7,779 total mentions on March 11 and an average of 455 per hour, stock traders and investors will love it, too.
BTC – Bitcoin
Bitcoin first burst onto the scene in 2009 as a form of digital currency, or cryptocurrency. Stocks in this company are said to be good for both long and short-term investments, pulling in 5,624 Reddit mentions when the data was collected and averaging 421 mentions every hour.
TSLA – Tesla, Inc.
The well-known Tesla Incorporation was founded in 2003 and since then has played a major role in the push to develop sustainable energy through electric cars and solar and renewable energy sources for businesses and homes. Tesla’s stock was mentioned by Reddit users 4,488 times on March 11 with an average of 252 mentions per hour.
SPY – SPDR S&P 500
In case you’re new to the world of stocks and unfamiliar with this particular string of letters and numbers, SPDR S&P 500 measures the performance of 500 large companies’ stocks in the United States. Ranking number six on the list of top trending Reddit stocks, SPY had a recorded 2,616 mentions on the day of data collection and averaged 135 mentions per hour.
PLTR – Palantir
Last but certainly not least in the top seven is PLTR, a stock in Palantir, a software company that integrates a business or organization’s data and operations into one convenient platform. On March 11, PLTR was mentioned 1,434 times and averaged 96 mentions per hour.