In this article, we discuss the 5 stocks Reddit’s WallStreetBets is now targeting. If you want to read our detailed analysis of these stocks, go directly to Beyond GameStop: Reddit’s WallStreetBets is Now Targeting These 10 Stocks.
5. SGOCO Group, Ltd. (NASDAQ: SGOC)
Number of Hedge Fund Holders: 3
SGOCO Group, Ltd. (NASDAQ: SGOC) is a Hong Kong-based firm that provides money lending services. It is ranked fifth on our list of 10 stocks Reddit’s WallStreetBets is now targeting. The company’s shares have returned 1,104% to investors in the past twelve months. Over the past few years, the firm has transformed focus from just money lending to stakes in the artificial intelligence, environmental, property, and energy saving businesses. The company has gained prominence in recent weeks amid social media chatter.
On July 12, SGOCO Group, Ltd. (NASDAQ: SGOC) stock soared 175% after mentions on internet forums. This brought the year-to-date gain for the stock, which hasn’t displayed significant increases in earnings or sales numbers, to 1,800%.
At the end of the first quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $232,000 in SGOCO Group, Ltd. (NASDAQ: SGOC), up from 1 in the previous quarter worth $19,000.
4. MicroVision, Inc. (NASDAQ: MVIS)
Number of hedge fund holders: 12
MicroVision, Inc. (NASDAQ: MVIS) is placed fourth on our list of 10 stocks Reddit’s WallStreetBets is now targeting. The stock has returned 402% to investors in the past twelve months. The firm makes and sells lidar sensors that are used by various automakers working on self driving and autonomous driving technology. The firm has a market cap of over $2 billion and posted more than $3 million in annual revenue last year. In the first quarter, the company missed market estimates on earnings per share and revenue.
MicroVision, Inc. (NASDAQ: MVIS) recently joined the Russell 2000 Index and announced a $140 million at-the-market equity offering. The proceeds from the sale of the offering will be used for generate corporate purposes, according to the firm.
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.
3. Clean Energy Fuels Corp. (NASDAQ: CLNE)
Number of Hedge Fund Holders: 15
Clean Energy Fuels Corp. (NASDAQ: CLNE) is a California-based energy firm that focuses on the provision of renewable natural gas as an alternative to other fossil fuels for commercial fleets. It is ranked third on our list of 10 stocks Reddit’s WallStreetBets is now targeting. The company’s shares have returned 204% to investors in the past year. The company recently contributed $50 million to a joint venture with energy giant BP. The firm has a market cap of over $1.5 billion and posted close to $300 million in annual revenue last year.
Clean Energy Fuels Corp. (NASDAQ: CLNE) has been one of the most mentioned on Reddit forums in the past months and a half, although the mentions have failed to result in a significant increase in share price, which is still well below the 52-week high of almost $20.
Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Driehaus Capital is a leading shareholder in Clean Energy Fuels Corp. (NASDAQ: CLNE) with 2.3 million shares worth more than $32 million.
2. Virgin Galactic Holdings, Inc. (NYSE: SPCE)
Number of Hedge Fund Holders: 17
Virgin Galactic Holdings, Inc. (NYSE: SPCE) stock has offered investors returns exceeding 25% over the course of the past year. It is placed second on our list of 10 stocks Reddit’s WallStreetBets is now targeting. The company operates as an aerospace entity with the aim of taking tourists into space. The company recently filed to sell $500 million worth of stock. The stock soared briefly earlier this month before taking a breather, although mentions on Reddit forums have kept it from dropping too quickly.
On July 12, investment advisory Canaccord maintained a Buy rating on Virgin Galactic Holdings, Inc. (NYSE: SPCE) and raised the price target to $48 from $35, noting the recent headlines the firm made when owner Richard Branson took a flight to the edge of space.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Virgin Galactic Holdings, Inc. (NYSE: SPCE) with 2.8 million shares worth more than $86 million.
1. Alibaba Group Holding Limited (NYSE: BABA)
Number of Hedge Fund Holders: 135
Alibaba Group Holding Limited (NYSE: BABA) is ranked first on our list of 10 stocks Reddit’s WallStreetBets is now targeting. The company’s shares have offered investors returns exceeding 3% over the course of the past week. The company operates one of the largest ecommerce businesses in the world. The stock has climbed in recent days after news reports that the company is considering opening up the platform to Chinese technology giant Tencent, the firm that owns the popular WeChat platform.
On July 13, investment advisory Deutsche Bank maintained a Buy rating on Alibaba Group Holding Limited (NYSE: BABA) stock with a price target of $281, noting the revenue growth of the firm and possible investment spending ahead.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Alibaba Group Holding Limited (NYSE: BABA) with 13.9 million shares worth more than $3.1 billion.
In its Q1 2021 investor letter, Polen Capital Management, an asset management firm, highlighted a few stocks and Alibaba Group Holding Limited (NYSE: BABA) was one of them. Here is what the fund said:
“Alibaba also detracted from performance as the company continues to remain under regulatory scrutiny from both the Chinese State Administration for Market Regulation on antitrust concerns and the U.S. Securities and Exchange Commission on ADR listing requirements. Despite the regulatory overhang, we believe that Alibaba’s competitive positioning and growth outlook remains intact, even if the company must pay fines or modify some business practices. We viewed the current valuation at <20x next twelve month’s earnings as a compelling opportunity to add to our position. Alibaba is the second largest position in the Portfolio.”
You can also take a peek at 10 Stocks Reddit’s WallStreetBets is Buying in July 2021 and Forget AMC and Gamestop: 10 New Stocks Reddit’s WallStreetBets Is Buying.
