Best Reddit Actions for Memes: DoorDash, Pubmatic, AMD, Nvidia

  • Redditors discuss the actions of DoorDash and Pubmatic after their exceptional income reports.
  • Advanced Micro Devices and Nvidia are also on big draws, although they can slow down.
  • Below are the top 17 memes stocks on Reddit right now, according to HypeEquity.

Before 2021, few would have believed that GameStop (GME), a struggling video game retailer, would play an important role in the definitive evolution of the investment world. But that’s exactly what happened.

Hedge funds that short-sold GameStop’s seemingly lifeless stocks have seen their bearish bets backfire on small investors on sites like Reddit plotting to buy the company’s stock, using memes to back the effort. A breathtaking rally ensued and the “memes actions” movement was born.

Today, investor appetite for even stocks remains healthy. Although GameStop has since cooled to almost 60% below its all-time high, shares are more than 10 times higher than they were at the start of 2021, with dozens of other lucky names hoping to be the next GameStop have grown throughout the year.

But often investors looking for the next hot title get burnt. There is no guarantee that a stock that a Redditor highlights will take off. And sometimes the promoters of shares on message boards have ulterior motives, like trying to get others to buy shares of a bad company.

This 21st century conundrum was the inspiration behind the creation of HypeEquity, a website that aims to make it easy to find stocks of popular and rapidly growing memes. It does this by finding and analyzing posts in investment forums on Reddit while rejecting posts from spammers.

“I made some money with GameStop, and I said, ‘Hey, that’s pretty cool, I want to do more,'” Travis Rehl, the site’s creator, told Insider. “And I quickly realized that it was impossible to do more because you have to spend a lot of time researching and learning. So I was like, ‘I’m going to make others do it. for me. “… Let other people do and talk about stock market discoveries, and then they’ll go up to the top, the top 10 things I should be looking at, and I’ll spend my time on that.”

HypeEquity has two lists of the top 10 stocks on its home page: trending stocks, or those with the most mentions and high trade volumes; and trending stocks, which are the fastest on Reddit.

Three names appear on both lists this week: Tesla (TSLA), Coinbase (PIECE OF MONEY) and DoorDash (HYPHEN). Over the past month, shares of these companies rose 34.8%, 33.7% and 13.9% respectively. Tesla has fallen more than 12% in the last few days – otherwise it would have increased by 54% in the last 30 days or so.

Some of the top stocks currently on HypeEquity’s listings include food delivery company DoorDash and online advertising company PubMatic (PUBM), both of which soar on strong earnings reports on Tuesday. Advanced micro-systems (AMD) and Nvidia (NVDA) also made the cut after rallies of 36.5% and 44.7% respectively last month.

Below is a list of the top 17 stocks on Reddit from HypeEquity’s Trending Stock and Stock Lists, as of early Wednesday. Each share is accompanied by its ticker and the following data from HypeEquity: category (hype or trend), social mentions and percentage change in social volume.

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