10 meme actions that more than doubled in 2021

0

In this article, we discuss the 10 memes stocks that more than doubled in 2021. If you want to skip our detailed analysis of these stocks, head straight to the 5 meme actions that more than doubled in 2021.

Even stocks have exploded in popularity in the stock market. According to a to study Per investment bank Goldman Sachs, retail traders are on track to invest more than $ 400 billion in stocks this year. Most of this money will go to the day trading market where even stocks are usually an asset.

Some reports suggest that hedge funds have taken losses worth $ 12 billion by betting against these memes stocks this year, with some short-term battles still unfolding in the market. Meanwhile, a list of preferred stocks by retail traders, maintained by Goldman Sachs, has made impressive gains this year. This boom in retail investors has led to active scrutiny from the Reddit forums as institutional investors try to stay ahead of the game.

Some of the stocks currently trending on Reddit include Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOG), among others discussed in detail below.

Our methodology

These were chosen based on the hype around the companies on different Reddit forums. Stocks that have seen an increase of at least 200% since the start of the year were preferred for the list.

Hedge fund sentiment around each stock was calculated using data from 867 hedge funds tracked by Insider Monkey.

photo by Adam nowakowski to Unsplash

Meme stocks that more than doubled in 2021

10. GameStop Corp. (NYSE:GME)

Number of hedge fund holders: 9

Gain since the start of the year: 960%

GameStop Corp. (NYSE: GME) is engaged in the retail business of computers and electronics. The company is perhaps the most famous meme stock of the year, registering a rally of over 1000% at the end of the year due to Redditors’ interest as a short squeeze game. .

GameStop Corp. (NYSE: GME) referred to moves in the crypto and NFT space in an effort to diversify its operations beyond retail. Rising analyst Edward Woo has a sell rating on the stock with a price target of $ 24.

Among the hedge funds tracked by Insider Monkey, a Chicago-based investment firm Citadelle investment group is a major shareholder of GameStop Corp. (NYSE: GME) with 2.1 million shares valued at over $ 373 million.

Just like Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), Microsoft Corporation (NASDAQ: MSFT) and Alphabet Inc. (NASDAQ: GOOG), GameStop Corp. (NYSE: GME) is one of the actions on Redditors’ radar.

In its Q1 2021 letter to investors, Rhizome Partners, an asset management firm, highlighted a few stocks and GameStop Corp. (NYSE: GME) was one of them. here this is what the fund says:

“The first quarter saw some bizarre reactions from the market. Game Stop is a severely short-circuited legacy video game retailer that saw its stock price jump from $ 17 to a record high of $ 483 in one month. It appears retail investors on a Reddit.com forum called WallStreetBets used memes to create a viral forced buy feedback loop. Game Stop reached a market cap of $ 20 billion and had more daily trading volume than Apple at one point in time. The Game Stop squeeze shorts have become a black swan event for short sellers. Large hedge funds such as Melvin Capital suffered 50% losses in a short period and required emergency capital injections which resulted in costly dilution. Short-circuiting is difficult and introduces a risk of ruin. This is especially true in situations where a large percentage of the float is bypassed. We remind you that we hedge our portfolio via index puts, sectoral puts, and sometimes by buying puts directly in our own portfolio companies. However, we rarely short circuit because 1) we are not good at it 2) the potential for brain damage is too high and 3) we want to avoid the risk of ruin.

9. AMC Entertainment Holdings, Inc. (NYSE:AMC)

Number of hedge fund holders: 17

Gain since the start of the year: 1675%

AMC Entertainment Holdings, Inc. (NYSE: AMC) owns and operates theaters around the world. The stock was involved in one of the two most famous short squeezes of the year that rocked hedge funds even as the company failed to impress on fundamentals.

Citi analyst Jason Bazinet has a sell quote on AMC Entertainment Holdings, Inc. (NYSE: AMC) stock with a target price of $ 6. The company has a market cap of $ 2.3 billion and short-term interest on it remains high at around 22%.

At the end of the third quarter of 2021, 17 hedge funds in Insider Monkey’s database had $ 252 million in AMC Entertainment Holdings, Inc. (NYSE: AMC), up from 21 in the previous quarter. valued at $ 404 million.

In its letter to investors for the fourth quarter of 2020, Mittleman Investment Management LLC, an asset management company, has put forward a few stocks and AMC Entertainment Holdings, Inc. (NYSE:AMC) was one of them. here this is what the fund says:

“AMC Entertainment (AMC) was our only major loser in the fourth quarter, going from $ 4.71 to $ 2.12 (-55%). I had planned to discuss here why it was worth at least the $ 10 per share that my recently reduced fair value estimate claimed, but since then AMC has raised more money on its UK holdings then the action took off due to speculative reddit.com gamers getting involved, so we sold everything for around $ 14 in the last week of January 2021. This was a modest profit for most customers, but of a loss for some others, depending on when the account started, so check your statements to see where you came out of. And yes, I recognize it as being a dose of luck, which I warmly accept from the universe as it seemed somewhat lacking in the portfolio lately. After the sale of AMC at the end of January 2021, our cinema exposure is now exclusively in Canada through Cineplex, which has a 75% market share and much less leverage on its balance sheet.

8. Cassava Sciences, Inc. (NASDAQ:SAVA)

Number of hedge fund holders: 10

Gain since the start of the year: 720%

Cassava Sciences, Inc. (NASDAQ: SAVA) is a clinical-stage biotechnology company. The stock has had a very eventful year so far as a favorite of retail investors with incredible ups and downs. The 52-week price range is between $ 6.7 and $ 146.6.

The Wall Street Journal recently reported that Cassava Sciences, Inc. (NASDAQ: SAVA) was under investigation by the United States Securities and Exchange Commission for manipulated results related to a drug in development.

Among the hedge funds tracked by Insider Monkey, a Chicago-based investment firm Citadelle investment group is a major shareholder of Cassava Sciences, Inc. (NASDAQ: SAVA) with 1.1 million shares worth over $ 70 million.

7. Hut 8 Mining Corp. (NASDAQ: HUT)

Number of hedge fund holders: 10

Gain since the start of the year: 343%

Hut 8 Mining Corp. (NASDAQ: HUT) is a cryptocurrency mining company. The action is one of Redditors’ top picks in the crypto space that has garnered massive investor interest this year following a record rise in the price of Bitcoin, the most popular cryptocurrency. .

Canaccord analyst Joseph Vafi recently raised the Hut 8 Mining Corp share price target. (NASDAQ: HUT) at $ 20 to $ 12 and maintained a buy rating on the shares, noting that the company had a long history in the crypto mining industry.

At the end of the third quarter of 2021, 10 hedge funds in Insider Monkey’s database had $ 43 million in stakes in Hut 8 Mining Corp. (NASDAQ: HUT), up from 4 in the previous quarter for a value of $ 2 million.

6. Upstart Holdings, Inc. (NASDAQ:UPST)

Number of hedge fund holders: 23

Gain since the start of the year: 413%

Upstart Holdings, Inc. (NASDAQ: UPST) is a California-based digital loan provider. Even though fintech companies are going through a lean period in the United States, Upstart has managed to avoid a sharp drop in the share price in part thanks to interest from retail investors on Reddit.

Upstart Holdings, Inc. (NASDAQ: UPST) missed market estimates for third quarter earnings. Jefferies analyst John Hecht subsequently lowered the stock to Hold to Buy with a price target of $ 330.

Among the hedge funds tracked by Insider Monkey, a New York-based investment firm Third point is a major shareholder of Upstart Holdings, Inc. (NASDAQ: UPST) with 12.4 million shares worth over $ 3.9 billion.

Besides Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), Microsoft Corporation (NASDAQ: MSFT) and Alphabet Inc. (NASDAQ: GOOG), Upstart Holdings, Inc. (NASDAQ: UPST) is one of the stocks catching the attention of retail investors.

In its letter to investors in Q2 2021, Vulcan Valuable Partners, an asset management company, put forward a few stocks and Upstart Holdings, Inc. (NASDAQ:UPST) was one of them. here this is what the fund says:

“During the quarter, we purchased Upstart Holdings Inc. Upstart is an artificial intelligence (AI) and cloud-based lending platform. The company uses AI models to take out premium loans with lower interest rates, lower default rates, higher approval rates, and increased underwriting automation. Consumers can access Upstart financed loans through the websites of its banking partners; however, most of his loans are taken out on Upstart.com. Upstart has a fee-based income model and only retains a small portion of loans, while the majority of loans end up on the balance sheets of its partner banks or are sold in capital markets. We believe that Upstart’s technology is superior to the FICO score, which is ubiquitous in consumer credit markets. With a great product and a large total addressable market, we believe the outlook for Upstart is bright.

Click to continue reading and viewing 5 meme actions that more than doubled in 2021.

Suggested articles:

Disclosure. Nothing. 10 meme actions that more than doubled in 2021 was originally published on Insider Monkey.


Source link

Share.

Comments are closed.