By now, you’ve probably heard about the best Reddit stocks such as Blackberry (NYSE:BB), AMC (NYSE:AMC), and GameStop (NYSE:GME).
Promoted by an army of investors on the subreddit r/WallStreetBets, shares of these companies recently soared to unprecedented heights as hedge funds and short sellers racked up massive losses and were forced to cover their short positions.
For example, Blackberry soared from just $2.70 a share in March 2020 to a high of $28.77 a share in January 2021 - for a total gain of 966%.
AMC surged from just $1.91 on January 5, 2021 to reach $20.36 a share just a couple weeks later - for a gain of 967%.
And GME went from just $2.57 per share in April 2020 and reached a dizzying $483 per share in January 2021 - for a mind boggling gain of 18,694%.
The results have been incredible.
But with all of the hype surrounding them today, investors that missed out on the first wave of Reddit stocks have been asking the question: what will be next?
The good news is, while companies like BB, AMC, and GME have garnered all of the attention so far, there are still a number of other companies that have gone unnoticed - at least by the mainstream media.
In fact, several of these “meme stocks” have been gaining huge popularity within the Reddit communities - with some of them boasting the same characteristics that eventually sent Blackberry, AMC, and GameStop shares soaring.
If you happened to miss out on the Reddit-fueled boom that minted millionaires and billionaires practically overnight, then these are the top Reddit stocks to keep an eye on before the hype train sends them “to the moon”.
Tanger Factory Outlet Centers Inc. (NYSE:SKT)
Advanced Microdevices Inc. (NASDAQ:AMD)
NIO Limited (NYSE:NIO)
Palantir Technologies Inc. (NYSE:PLTR)
Invesco QQQ Trust (NASDAQ:QQQ)
Square, Inc. (NYSE:SQ)
UWM Holdings Corporation (NYSE:UWMC) Senseonics Holdings, Inc. (NYSEAmerican:SENS)
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) is a real estate investment trust (REIT) that has been around for over 40 years. The company is a leading operator of upscale open-air outlet centers that owns, or has an ownership interest in, a portfolio of 36 centers.
Tanger's properties are located in 20 states and in Canada. They total approximately 13.6 million square feet, and they’re leased to over 2,500 stores operated by more than 500 different brand name companies.
Founded in 1969 and headquartered in Santa Clara, California, AMD is a semiconductor company that has enjoyed rapid growth in recent years.
The company is a global leader in high-performance computing, graphics, and visualization technologies ― the building blocks for gaming, immersive platforms, and the datacenter.
AMD’s products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.
Founded in November 2014, NIO Inc. builds and sells electric vehicles in China. The company also provides users with comprehensive and convenient power solutions, including Battery as a Service (BaaS), NIO Pilot and NIO Autonomous Driving (NAD), Autonomous Driving as a Service (ADaaS), and other user-centric services. NIO’s vehicles include the ES8, the ES6, the EC6, and ET7.
Founded in 2003 and headquartered in Denver, Colorado, Palantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. This includes building and deploying software for the U.S. intelligence community to assist in counterterrorism investigations and operations.
In their latest annual report, the company reported revenue growth of 47% for the full year 2020.
Invesco QQQ is an exchange-traded fund that tracks the Nasdaq-100 Index. The Index includes the 100 largest non-financial companies listed on the Nasdaq based on market cap.
As of Dec 31, 2020, the ETF was rated the #1 best-performing large-cap growth fund (1 of 327) based on total return over the past 15 years. It was also the 2nd most traded ETF in the US, based on average daily volume traded.
Since its formation in 1999, QQQ has consistently beaten the S&P 500 Index.
Founded in 2009 by Twitter’s Jack Dorsey and Jim McKelvey, and based in San Francisco, California, Square, Inc. is an American financial services, merchant services aggregator, and mobile payments company. The company builds tools that enable sellers to accept card payments and it markets software and hardware payments products as well.
Sellers use Square to reach buyers online and in person, manage their business, and access financing. And individuals use Cash App to spend, send, store, and invest money.
UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.
UWM is the publicly traded indirect parent of United Wholesale Mortgage, which engages in the residential mortgage lending business. The company has been the #1 wholesale and purchase lender in America (by origination) for six years in a row.
It originates, processes, and underwrites primarily government-sponsored enterprises-conforming mortgage loans; and the Federal Housing Administration, United States Department of Agriculture, and the Veteran Affairs mortgage loans, which are pooled and sold in the secondary market.
Senseonics Holdings, Inc. is a medical technology company that was founded in 1996 and is headquartered in Germantown, Maryland.
The company is focused on the design, development and commercialization of transformational glucose monitoring products to improve the lives of people with diabetes by enhancing their ability to manage their disease.
Senseonics' CGM systems, Eversense® and Eversense® XL, include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.