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Tue, June 6 at 7:00PM ET

3 Reddit Stocks With Upcoming Catalysts to Watch 

  • Reddit stocks have been crushed, but a few have merit — and upcoming catalysts.
  • Advanced Micro Devices (AMD) reported strong earnings and is trying to rally.
  • Bed Bath & Beyond (BBBY) could see a jolt at any point from Ryan Cohen.
  • Roku (ROKU) has its annual meeting in about a month and the stock is holding up after reporting earnings.
Hand holding a smart phone with Reddit sign-in page displayed on screen. In the background, there is a TV screen with large Reddit logo displayed on it.

Source: Lorenzelli

It’s been a tough time for growth stock investors. No, scratch that — it’s been a brutal time for these investors. Tech stocks have been demolished so far this year, and that’s even more true for Reddit stocks.

While this group has been punished, that doesn’t mean all names deserved the same across-the-board selling. In fact, many are high-quality businesses that still have long-term opportunities.

When dealing with Reddit stocks specifically, investors are aware of the momentum. Right now, that points to the downside.

However, there will be times when the bear-market rallies tilt in investors’ favor. That could be true when these stocks have certain catalysts in front of them. To be clear, these stocks will need the market to change its trend in order for there to be a sustainable new uptrend.

Unfortunately, many investors have never navigated a downtrend. And when the Federal Reserve is turning notably hawkish rather than consistently dovish, it’s a new environment to navigate.

But that doesn’t mean there will not be opportunities along the way. Here are three Reddit stocks to consider that have catalysts in their favor.

AMD Advanced Micro Devices $95.89
BBBY Bed Bath & Beyond $8.75
ROKU Roku $94.67

Advanced Micro Devices (AMD)

Close up of AMD sign in Markham, Ontario, Canada. Advanced Micro Devices, Inc. (AMD) is an American multinational semiconductor company.

Source: JHVEPhoto /

Advanced Micro Devices (NASDAQ:AMD) continues to catch my eye. On May 3, AMD reported better-than-expected quarterly results. The stock was able to put together a nice post-earnings rally, and it held up well in the following days even as the market continued to move lower.

However, the selling pressure eventually took a toll on AMD just as it has all year. Shares are down more than 41% from their high. While that’s underperforming the Nasdaq, it’s outperforming many growth and Reddit stocks. That said, there are some real positives here.

For instance, the company beat earnings and revenue expectations. More importantly, it provided a strong outlook. Regardless of what the market does to AMD stock, it’s clear the business is doing well.

So, what’s the catalyst? We already know AMD is doing well and reacted well to its earnings report. Now, Nvidia (NASDAQ:NVDA) is due to report earnings on May 26. If it’s a good result, it could drive both of these names higher. Plus, AMD has had some solid accumulation volume lately.

Bed Bath & Beyond (BBBY)

bed bath & beyond storefront (BBBY)

Source: Shutterstock

Bed Bath & Beyond (NASDAQ:BBBY) has been a short-squeeze favorite ever since the r/WallStreetBets trend began in January 2021. We’ve seen mammoth spikes in BBBY stock since. While the rallies are usually short-lived, some investors are making the fundamental case for Bed Bath & Beyond.

Under CEO Mark Tritton’s leadership, the company has made a number of positive improvements. Bed Bath & Beyond has shed underperforming brands, improved its margins and turned cash flow positive. It even began a large share buyback plan, as its positive strides were more apparent to management than the market.

However, that’s not to say it’s been all smooth sailing. The company has struggled badly with supply chain issues. These have weighed on its results, made its business more volatile and sapped its growth.

That said, Ryan Cohen, co-founder and former CEO of Chewy (NYSE:CHWY) and the chairman of GameStop (NYSE:GME), has taken a stake in BBBY stock. He clearly sees opportunity in the stock and is pushing for some changes. As a result, he secured three seats on the board. Any news from Cohen could kickstart another rally.

Roku (ROKU)

ROKU Stock Will Continue Benefitting From the TCL Partnership

Source: Michael Vi /

Last but not least, we have streaming giant Roku (NASDAQ:ROKU). When Netflix (NASDAQ:NFLX) reported its dismal quarter in April, it cast a dark cloud over the rest of the streaming industry.

But then there were solid results out of Warner Bros. Discovery’s (NASDAQ:WBD) HBO, while Disney’s (NYSE:DIS) streaming platforms were much better than expected. For its part, Roku reported mixed results. However, there were some solid positives, even if the headline numbers were only so-so.

For what it’s worth, Roku has also been badly impacted by supply chain issues. That said, it’s not stopping consumers from streaming video. Furthermore, the stock has been relatively stable since it last reported earnings. While that’s not screamingly bullish — it would have been nice to see a big rally instead — it’s definitely more constructive than a massive decline.

As for its catalyst, Roku has its annual meeting on June 9. If the market is cooperating at that time, it could be one of the Reddit stocks that enjoys a nice upside move.

On the date of publication, Bret Kenwell held a long position in ROKU. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.

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