Reddit's Top Stocks of 2024

December 19, 3:39 am

The digital age has transformed stock market analysis with alternative data sources, such as social media platforms, offering fresh perspectives that traditional indicators might miss. Among these platforms, *Reddit* stands out as a hub for passionate investors who often lead the charge in recognizing potential and driving market trends. When Redditors talk, the market listens, and oftentimes, their collective enthusiasm not only moves stock prices but also shines a light on companies that may have previously been flying under the radar.

In 2024, certain stocks have veritably dominated Reddit conversations. This keen interest from the Reddit community has been associated with a stirring in the market, with some stocks enjoying significant price movements. Here, we list the cream of the crop - the Reddit Top Stocks of 2024 - along with insights into why these tickers have captured the imagination of the online masses.

Reddit's top-mentioned stocks have delivered impressive results, with an average gain of 59% in stock price over the past year. Among the top 10 stocks frequently discussed on the platform, 8 have generated positive returns, showcasing the potential power of social sentiment in driving market performance. However, it's important to consider the relationship between correlation and causation. The increased discussions around these stocks might have been influenced by their rising prices, drawing attention from investors. Conversely, the heightened attention and activity on platforms like Reddit could also have contributed to driving these stock prices higher.

Let's take a closer look at the top mentioned stocks.

1. GameStop (GME)

Mentions Last Year: 395,551
Sentiment: Bullish
Current Stock Price: $28.55
Performance Last Year: Up by 63%

The once brick-and-mortar game retail chain has evolved into a symbol of retail investor power (and birthed the meme stocks era). With a bullish sentiment and a notable stock price surge, GameStop remains a quintessential representation of Reddit-driven market fervor.

2. NVIDIA (NVDA)

Mentions Last Year: 297,369
Sentiment: Bullish
Current Stock Price: $128.91
Performance Last Year: Up by 160%

NVIDIA continues to capture the imagination of the tech-savvy crowd on Reddit thanks to the company being a leader in AI. Investors are betting big on its future, with the stock soaring impressively (even though the stock price is down by 12% in the last month).

3. Tesla (TSLA)

Mentions Last Year: 172,798
Sentiment: Neutral
Current Stock Price: $440.13
Performance Last Year: Up by 77%

The electric vehicle giant, with it's ever-controversial Elon Musk, sees constant debate on Reddit. Despite a neutral sentiment, its innovation and market position have driven a solid yearly gain.

4. Google (GOOGL)

Mentions Last Year: 87,901
Sentiment: Bullish
Current Stock Price: $188.40
Performance Last Year: Up by 35%

As a leader in Internet-related services and products, Google has maintained a bullish presence amongst Redditors, and its steady stock performance reflects robust company fundamentals. The company's investments in AI, quantum computing, and self-driving technology have been driving a lot of the discussions.

5. Apple (AAPL)

Mentions Last Year: 73,177
Sentiment: Bullish
Current Stock Price: $248.05
Performance Last Year: Up by 29%

The tech behemoth remains a favorite topic on Reddit, with products that engage its users. The stock remains a strong hold in many long-term holding portfolios.

6. Intel (INTC)

Mentions Last Year: 67,744
Sentiment: Bullish
Current Stock Price: $19.30
Performance Last Year: Down by 61%

Intel's stock performance may have taken a hit despite bullish chatter, possibly reflecting the competitive challenges it faces in the semiconductor industry. Opinions on Intel's valuation vary, with some seeing it as undervalued and a potential long-term investment, while others express concerns about the company's leadership (with it's new CEO) and market position.

7. Robinhood (HOOD)

Mentions Last Year: 53,299
Sentiment: Bullish
Current Stock Price: $37.08
Performance Last Year: Up by 191%

The trading platform, often synonymous with the retail investment boom and heavily discussed on Reddit, has seen its stock skyrocket as it continues to disrupt traditional trading paradigms. Some users are critical of Robinhood's handling of trades and accounts, while others appreciate its commission-free trading and user-friendly interface.

8. AMD (AMD)

Mentions Last Year: 52,408
Sentiment: Bullish
Current Stock Price: $121.41
Performance Last Year: Down by 18%

AMD, despite some setbacks in stock price, remains in the good graces of tech enthusiasts on Reddit, possibly due to its innovation in the processor space. Comments highlight AMD's strong competitive position in the CPU and GPU markets, with comparisons to Intel and Nvidia.

9. Amazon (AMZN)

Mentions Last Year: 52,123
Sentiment: Bullish
Current Stock Price: $220.52
Performance Last Year: Up by 45%

Amazon's pervasive presence in virtually every aspect of e-commerce and cloud computing continues to generate bullish sentiment and stock gains.

10. Meta (META)

Mentions Last Year: 46,924
Sentiment: Bullish
Current Stock Price: $597.19
Performance Last Year: Up by 69%

The parent company of Facebook, despite a myriad of challenges, continues to engage Redditors. The company's investment into the future (AI, Metaverse, Smart glasses, social media, etc) drives discussions and is a force behind the stock's strong performance.

The Reddit Effect

For investors, keeping an eye on online sentiment is more important than ever. Reddit has become a hotspot for stock discussions, and while it’s not a surefire way to predict success, the platform has shown it can sometimes move markets. Viral posts and group sentiment can drive stock prices up or down, even when the fundamentals don’t always match. Tracking these Reddit trends can offer useful insights, but it’s just one piece of the puzzle. What’s clear, though, is that these Reddit-driven stock movements show how retail investors are reshaping the market and making financial information more accessible to everyone.

For more information and to stay updated the most mentioned stocks on Reddit in realtime, visit Top Reddit Stocks in the past 24 hours.

Disclaimer: At AltIndex, we download and analyze all posts and comments on the most popular investing subreddits. With this data, we measure how many times a specific stock is mentioned along with sentiment. In this toplist we have removed Reddit as a stock since it is very hard to defer generic reddit mentions from discussions about the Reddit stock.

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