Ever since the GameStop share price exploded at the share market, the meme-stock craze is spreading like a wildfire.
I mean look at the past year’s performance of GameStop:
This one year has seen the Gamestop share price spike from the lows of $4.72 to the highs of $347.51. Now, it’s comfortably sitting at $233.34.
That’s 4843% up 📈 from the previous year. So, in some way, the meme-stock can be justified.
Now, reportedly Bank of America is flagging new Reddit stocks that are gaining some attention.
The retail traders on the WallStreetBets subreddit posted some stock names that are once again on the rise this week.
I mean, look at AMC Entertainment’s share price.
As you can see, it was available at $32.04 on June 1 and a day later it soared past $50 to $62.55. Then one day later on June 3, AMC entertainment announced its decision to sell over 11.5 million shares.
Right after the next day of the announcement, its share price dropped by 30 percent. Thereby halting the trading because of volatility.
Even though the share price has dipped a bit but it’s still available at close to $50.
Now to make sure, a situation like GameStop never happens again, Bank of America has been working on finding potential up-and-coming WallStreetBets targets by analyzing the number of mentions a stock has received in the shortest span on Reddit & the maximum number of shares sold by the investors.
These are 10 Reddit Stocks to Watch
- AMC
- GameStop
- Clean Energy Fuels (CLNE)
- Workhorse Group (WKHS)
- Wendy’s (WEN)
- Virgin Galactic (SPCE)
- Academy Sports and Outdoors (ASO)
- Athene Holding (ATH)
- Beyond Meat (BYND)
- Silvergate Capital (SI)
The wall street firm has listed these stocks to keep an eye out on during the return of meme stock craze. These stock listed have received the maximum mention on social media Reddit in recent days.
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That’s all for now.
With these stocks on the watchlist of Bank of America, would you add them to your portfolio? Do share your opinion on the meme stock craze going viral on social media & among retail investors.
