In this article we discuss the 5 popular stocks Reddit’s WallStreetBets is talking about today. If you want to read our detailed analysis of these companies, go directly to the 10 Popular Stocks Reddit’s WallStreetBets is Talking About Today.
5. BlackBerry Limited (NYSE: BB)
Number of Hedge Fund Holders: 24
BlackBerry Limited (NYSE: BB) is a Canada-based technology company founded in 1984. It is ranked fifth on our list of 10 popular stocks Reddit’s WallStreetBets is talking about today. The company stock has returned more than 102% to investors over the past year. BlackBerry was one of the leading mobile manufacturers of the past decade, but has since transitioned to software and internet of things (IoT) offerings. The company also offers governments and companies with security and encryption services.
On March 31, investment advisory Canaccord upgraded BlackBerry Limited (NYSE: BB) stock to Hold from Sell and revised the price target to $9 from $10, noting the fourth quarter 2020 earnings results of the firm and licensing headwinds.
Out of the hedge funds being tracked by Insider Monkey, Canada-based investment firm Fairfax Financial Holdings is a leading shareholder in BlackBerry Limited (NYSE: BB) with 46 million shares worth more than $392 million.
Just like GameStop Corp. (NYSE: GME) and MicroVision, Inc. (NASDAQ: MVIS), BlackBerry Limited (NYSE: BB) is one of the most popular stocks Reddit’s WallStreetBets is talking about today.
4. United Microelectronics Corporation (NYSE: UMC)
Number of Hedge Fund Holders: 11
United Microelectronics Corporation (NYSE: UMC) is a Chinese company that makes and sells semiconductor chips used in electronic devices. It was founded in 1980 and is placed fourth on our list of 10 popular stocks Reddit’s WallStreetBets is talking about today. The company stock has returned more than 268% to investors over the past year. The prices of semiconductor chips have skyrocketed in recent weeks amid a shortage of chips due to supply chain problems that are expected to last for several months.
On April 28, United Microelectronics Corporation (NYSE: UMC) posted earnings results for the first quarter of 2021, reporting earnings per share of $0.15 that beat market estimates by $0.04. The revenue over the period was $1.65 billion.
At the end of the first quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $173 million in United Microelectronics Corporation (NYSE: UMC), down from 12 in the preceding quarter worth $190 million.
3. MicroVision, Inc. (NASDAQ: MVIS)
Number of hedge fund holders: 12
MicroVision, Inc. (NASDAQ: MVIS) is a Washington-based technology company founded in 1993. It is ranked third on our list of 10 popular stocks Reddit’s WallStreetBets is talking about today. The company stock has offered an astonishing 1,518% return to investors over the past year. The firm primarily focuses on the development of laser technology for projection, 3D sensing, and image capture, among other uses. It also develops products that support augmented reality headsets.
In earnings results for the first three months of 2021, posted in late April, MicroVision, Inc. (NASDAQ: MVIS) reported earnings per share of -$0.04, missing market estimates by $0.01. The revenue over the period was $0.5 million.
Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in MicroVision, Inc. (NASDAQ: MVIS) with 1.2 million shares worth more than $32 million.
2. AMC Entertainment Holdings, Inc. (NYSE: AMC)
Number of hedge fund holders: 19
AMC Entertainment Holdings, Inc. (NYSE: AMC) is a Kansas-based movie theatre chain founded in 1920. It is placed second on our list of 10 popular stocks Reddit’s WallStreetBets is talking about today. AMC stock has offered investors returns exceeding 243% in the past year. The company owns and runs more than 1,000 movie theatres and 10,700 screens in many different countries around the world. The company is one of the largest movie theatre chains in the United States.
AMC Entertainment Holdings, Inc. (NYSE: AMC) posted quarterly earnings on May 5, posting earnings per share of -$1.42 for the first three months of 2021, missing market estimates by $0.04. The revenue for the first quarter of 2021 was close to $150 million.
At the end of the first quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $34 million in AMC Entertainment Holdings, Inc. (NYSE: AMC), up from 16 in the preceding quarter worth $24 million.
In its Q4 2020 investor letter, Mittleman Investment Management LLC, an asset management firm, highlighted a few stocks and AMC Entertainment Holdings, Inc. (NYSE: AMC) was one of them. Here is what the fund said:
“AMC Entertainment (AMC) was our only material loser in Q4, dropping from $4.71 to $2.12 (-55%). I planned on discussing here why it was worth at least the $10 per share that my recently reduced estimate of fair value claimed, but since then AMC raised more cash against their UK holdings and then the stock took off due to speculative players from reddit.com getting involved, so we sold it all around $14 during the last week of Jan. 2021. This was a modest profit for most clients, but a loss for some others, depending on when the account began, so check your statements to see where you came out. And yes, I recognize it as being a dose of good luck, which I heartily accept from the universe as it seemed somewhat lacking in the portfolio of late. After the sale of AMC in late January 2021, our exposure to the movie theater business is now exclusively in Canada via Cineplex, which has a 75% market share and much less leverage on its balance sheet.”
1. GameStop Corp. (NYSE: GME)
Number of Hedge Fund Holders: 13
GameStop Corp. (NYSE: GME) is a Texas-based retail firm that sells video games, consumer electronics, and gaming merchandise. It is ranked first on our list of 10 popular stocks Reddit’s WallStreetBets is talking about today. GameStop stock has returned more than 5,000% to investors over the past year. The company is one of the largest video game retailers in the world. It also owns a video games magazine and is part of the Fortune 500 list of big companies.
In late April, GameStop Corp. (NYSE: GME) stock surged more than 10% as the company announced that it had managed to raise more than $551 million through a market offering of shares. The company said the money would be used to accelerate a shift to ecommerce.
Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in GameStop Corp. (NYSE: GME) with 3.2 million shares worth more than $620 million.
Just like BlackBerry Limited (NYSE: BB) and MicroVision, Inc. (NASDAQ: MVIS), GameStop Corp. (NYSE: GME) is one of the most popular stocks Reddit’s WallStreetBets is talking about today.
In its Q1 2021 investor letter, Rhizome Partners, an asset management firm, highlighted a few stocks and GameStop Corp. (NYSE: GME) was one of them. Here is what the fund said:
“The first quarter saw some bizarre market reactions. Game Stop is a heavily shorted legacy video game retailer that saw its stock price rise from $17 to a peak of $483 within a month. It appears that retail investors on a Reddit.com forum called WallStreetBets used memes to create a viral feedback loop of forced buying. Game Stop reached $20 billion in market cap and had more daily trading volume than Apple at one point. The Game Stop short squeeze became a black swan event for the short sellers. Large hedge funds such as Melvin Capital suffered 50% losses during a short period and required emergency capital injections that resulted in costly dilution. Shorting is difficult and introduces a risk of ruin. This is especially true in situations where a large percentage of the float is shorted. We want to remind you that we hedge our portfolio via index puts, sector puts, and sometimes buying puts directly in our own portfolio companies. However, we rarely short because 1) we are not good at it 2) the potential for brain damage is too high and 3) we want to avoid the risk of ruin.”
You can also take a peek at Eagle Capital’s Top 10 Stock Picks and Billionaire David Siegel’s Top 10 Stock Picks.
