Reddit stocks continue to be on the mind of investors looking for their own “rocket to the moon.” And while these types of investments may carry some risk, these Reddit traders seem to have no fear when it comes to Wall Street.
As InvestorPlace writer William White put it, “Reddit continues to be a haven for retail investors looking to pump and dump shares of penny stocks. Members of the internet forum can come together and purchase up large numbers of these shares to send the price higher before running with the profits.” In turn, these investors are driving up a few certain stock tickers every day.
So, which Reddit stocks are trending right now? Let’s take a look at the current top 10.
- GameStop (NYSE:GME) — Up 36%
GME stock appears to be bouncing back on Thursday after its 54.5% fall from recent highs. This two-week drop came after the company reported poor fourth-quarter figures and received an analyst downgrade.
- AMC Entertainment (NYSE:AMC) — Up 20%
AMC stock is also on the rise today after a four-day losing streak caused a drop below $10 per share. The stock took a major hit earlier this week after Disney (NYSE:DIS) said two of its next major movies would be released in theaters and on Disney+ at the same time.
- Palantir Technologies (NYSE:PLTR) — Up 3.4%
Another member of the trending Reddit stock for Thursday is Palantir. PLTR stock was wavering earlier, but is now making moves higher in a hurry after the ARK Innovation ETF (NYSEARCA:ARKK) picked up an additional 1.2 million shares of PLTR stock on Wednesday.
- SPDR S&P 500 ETF Trust (NYSEARCA:SPY) — Up 0.3%
There doesn’t appear to be a reason why the SPY is trending on Reddit today. Overall, the exchange-traded fund (ETF) has traded mostly flat in 2021 — up just 3.5%.
- Tesla (NASDAQ:TSLA) — Up 0.8%
Tesla stock is up slightly on the day as shares continue to recover from recent lows. There doesn’t seem to be news driving Thursday’s small gain, but TSLA stock has some traction on Reddit at the moment.
- Nio (NYSE:NIO) — Up 3.9%
Shares of Nio stock wavered in the opening hours of the day, but it now appears they’ve found their footing. And with no news to report of, NIO stock seems to be surging higher with the Reddit stocks charge.
- Twitter (NYSE:TWTR) — Down 1%
Shares of Twitter stock are down slightly as it continues to fall for the sixth-straight day. Nothing appears to be causing the stock to move at the moment, though.
- Apple (NASDAQ:AAPL) — Up 0.3%
Apple stock is almost back into the green on Thursday after being down five out of the past six days. That said, according to The Street, this recent slide is likely due to a “market-wide shift in attitude away from tech, growth and defensive stocks.”
- WISeKey International Holding (NASDAQ:WKEY) — Down 28%
WKEY stock is crashing hard today after its 144% rise on Wednesday. The major gain came after the the firm announced its non-fungible token (NFT) application — WISe.ART. However, it appears that this Reddit stock is falling back to normal on Thursday.
- HighPoint Resources (NYSE:HPR) — Down 33.9%
HPR stock is also taking a tumble following its own 119% jump on Wednesday. However, unlike WISeKey, there doesn’t appear to be specific news causing this movement.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.