8/2/2023 0 Comments Stocks to buy now reddit![]() We follow a select group of hedge funds because Insider Monkey’s research has uncovered that their consensus stock picks can deliver outstanding returns. We have then ranked those popular meme stocks based on the number of hedge fund shareholders of each (ties are broken by the amount of money hedge funds have invested in each stock). While several massive companies like Apple, AMD, and Tesla are popular among retail investors, we have focused on smaller companies that retail investors are more likely to move the needle on. The following list of the best meme stocks has been compiled primarily from two sources: the number of stock mentions over the past week on the r/WallStreetBets Reddit forum, which has 13 million active users as of January of this year, and the holdings of the Roundhill MEME ETF, which tracks the performance of meme stocks and which has gained 35% this year. ![]() Those figures receded somewhat in 2022 as the best meme stocks struggled to duplicate their success from the year prior, though there was “A Sudden Resurrection”: 10 Rebounding Meme Stocks to Buy in August. By late 2021, that figure has risen even higher, to nearly 25%. That meme stock success coincided with retail investors accounting for a much greater percentage of the overall volume of equities trading in the U.S., as their share rose from about 15% in 2018 to nearly 20% by the end of 2020. As we reported in 11 Best Meme Stocks To Buy Now, a September 2021 report from Acuitas Investments found that meme stocks significantly outperformed the broader market in early 2021, gaining 110%, and that success carried on throughout the year for several of the best meme stocks, as there were 10 Meme Stocks that More than Doubled in 2021. ![]() Those early meme pioneers, who often found their next meme stock on Reddit, caught the market completely by surprise and were wildly successful as a result. Their first major target was the meme stock Gamestop, which skyrocketed more than 20x in value between 20, reaching a market cap of over $22 billion. With millions of people stuck inside their homes, many of whom were now without work, they increasingly turned to investing (and more specifically, day trading) as a way to spend their free time and attempt to make money. While there were a few scattered instances in the past of retail traders banding together to collectively drive up the price of a particular security, the meme stock craze didn’t really take off until the height of the pandemic in late 2020 and early 2021. (NYSE: PLTR) are some of the best meme stocks 2023 has to offer retail investors according to the current interest levels in those stocks among retail investors. (NASDAQ: PLAY), and Palantir Technologies Inc. (NASDAQ: GTLB), Dave & Buster’s Entertainment, Inc. To skip our detailed discussion of the history of meme stocks, click to go straight to the 5 Best Meme Stocks To Buy Now. In this article we present the list of 12 Best Meme Stocks To Buy Now.
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