Reddit stocks: what stocks are trending?

Reddit has become a hub for social-media driven traders and investors that have proven their ability to maneuver the markets, injecting huge volatility into stocks like GameStop and AMC. But what stocks are grabbing attention on Reddit today?
Top Reddit stocks to observe
Below may be a list of the highest 10 most mentioned US stocks on the WallStreetBets thread on Reddit over the last 24 hours on April 28, 2021, consistent with data from Quiver Quantitative. Exchange-Traded Funds (ETFs) are excluded.

Mind Medicine
Advanced Micro Devices
AMC Entertainment
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The Reddit frenzy
Retail investors realised their potential power in early January 2021 when a loosely-coordinated strategy was formed on Reddit’s WallStreetBets chatroom to shop for shares and out-of-money call options on stocks that were being targeted by short-sellers to push the worth higher. the thought was to make a short-squeeze.

What is a short-squeeze?
A short-squeeze does what it says on the tin – it tries to squeeze short-sellers out of their positions. Short-sellers, mostly big institutional investors and hedge funds, bet that the worth of a stock will fall but, as retail investors pile in and push the share price higher, they’re forced to start out buying the stock to undertake to limit their losses. The buying by the large players only fuels the share price higher.

David vs Goliath
The fact many of the stocks being targeted are fundamentally flawed or failing adds increased risk into an already volatile picture. GameStop is an out-of-favour retailer that sells physical video games during a time when games are mostly being bought online, while others like Blackberry also are laggards from the past.

With this in mind, it’s unsurprising they were within the crosshairs of short-sellers that search for failing companies to bet against.

But why are retail investors banding together to shop for shares in flawed companies? This disconnect is partly explained by a growing resentment among the smaller players within the market, which afflict the thought of huge institutions taking advantage of a company’s failure through short-selling practices, creating what has been described as a ‘David vs Goliath’ battle.

It is important to notice that not all the foremost actively-discussed stocks on Reddit are struggling or being targeted by short-sellers. Many of the foremost mentioned stocks, like Apple, are simply popular among the community.

Reddit stocks and volatility
The stark movements in stocks like GameStop has demonstrated the facility and influence that social media-driven investors and traders can wear the market, having injected severe volatility into several stocks. Volatility presents opportunities for traders, and it doesn’t get more volatile than Reddit stocks immediately – even during an epidemic .

For example, we saw GameStop – the primary heavily-shorted stock to be targeted by social media-driven investors – go from below $19 at the beginning of 2021 to a replacement record high of over $347 by January 27, and therefore the share price has remained highly volatile ever since.