The Reddit stock market community has been known to generate a lot of buzz around certain stocks, but not all of these stocks are well-known. If you’re looking for some Reddit stocks to buy now, here are two for you to consider.
2 Reddit Stocks to Buy Now – December 2023
- MongoDB (MDB)
- Palantir Technologies (PLTR)
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What Are Reddit Stocks?
Reddit stocks are stocks that are discussed on the social media platform Reddit. These stocks often have strong fundamentals and are poised for growth. In recent years, Reddit has become a powerful force in the stock market.
In January 2021, a group of retail investors on Reddit banded together to drive up the price of GameStop stock, which had been shorted heavily by hedge funds. The event, known as the “GameStop short squeeze,” made headlines around the world and showed the power of retail investors to move markets.
Some of the most popular Reddit stocks include:
- Tesla (TSLA)
- Apple (AAPL)
- Microsoft (MSFT)
- Amazon (AMZN)
- NVIDIA (NVDA)
- Meta Platforms (META)
- PayPal (PYPL)
- Block (SQ)
- Roblox (RBLX)
- Coinbase (COIN)
These companies are all well-known and influential in their respective markets:
Tesla
As a pioneer in the electric vehicle industry, Tesla has revolutionized the automotive market by producing high-quality electric cars and promoting sustainable transportation.
Apple
A dominant force in the smartphone market, Apple’s iPhones have become iconic devices, setting new standards for design and user experience in the tech industry.
Microsoft
Known for its productivity software, Microsoft’s suite of products like Office and Windows has been instrumental in shaping the way businesses and individuals work with computers.
Amazon
A major player in the e-commerce market, Amazon has transformed the way people shop online and offers a wide range of products and services, from retail to cloud computing.
NVIDIA
A leader in the semiconductor market, NVIDIA’s graphics processing units (GPUs) have been vital for industries like gaming, artificial intelligence, and high-performance computing.
Meta Platforms
As a social media giant, Meta Platforms connects billions of people worldwide and provides various platforms like Facebook, Instagram, and WhatsApp.
PayPal
Recognized as a leading digital payments company, PayPal has simplified online transactions and enabled secure and convenient money transfers.
Square
A payments company providing diverse solutions for businesses and individuals, including its popular point-of-sale system and Cash App for person-to-person payments.
Roblox
This gaming platform allows users to create, share, and play games, empowering a vast community of game developers and players.
Coinbase
As a prominent cryptocurrency exchange, Coinbase facilitates the buying, selling, and trading of various cryptocurrencies, contributing to the growth of the crypto market.
Each of these companies has made significant contributions to their industries, impacting the way people live, work, and interact in the modern world. Their innovative products and services continue to shape the technological landscape and drive economic growth.
While many of these stocks have strong track records, it’s important to note that Reddit stocks are often volatile, meaning their prices can fluctuate wildly. This is because retail investors who discuss stocks on Reddit tend to be more emotional and less risk-averse than traditional investors. As a result, Reddit stocks can be more susceptible to pump-and-dump schemes, where investors artificially inflate the price of a stock and then sell it off at a profit.
2 of The Best Reddit Stocks to Buy Now
MongoDB (MDB)
MongoDB is a database company that provides a document-oriented database platform. The company’s database is used by a variety of businesses, including startups, enterprises, and government agencies. MongoDB stock continues to surge from AI-driven interest and is well-positioned to benefit from the continued growth of the data-driven economy.
MDB stock is already up 123% year-to-date and just yesterday MongoDB announced a continued partnership with tech giant Microsoft, which helped shares rise even further.
In addition to Microsoft, MongoDB has partnerships with Accenture, Alibaba Cloud, AWS, BigID, Capgemini, Carahsoft, commercetools, Confluent, Exafluence, Google Cloud, HCL Technologies, IBM, PeerIslands, Tecnotree, Temenos, and Unqork.
Here’s another potential Reddit stock to buy…
Palantir Technologies (PLTR)
Earlier this week Palantir bought 6 Million additional shares of Rubicon Technologies (NYSE:RBT), increasing its total stake to 14.63 million shares. This investment looks to be brining RBT stock back from the grave.
Palantir stock has seen a massive increase of 183% YTD as well. However, future GDP expectations could slow quarterly growth. But, at least for the short-term, positive economic conditions may persuade investors to consider this a Reddit stock to buy.
Palantir Technologies is a big data analytics company that provides a platform for businesses to collect, store, and analyze data. The company’s platform is used by a variety of businesses, including government agencies, defense contractors, and financial institutions.
Additionally, he company continues to build upon its existing Palantir Foundry architecture. Foundry is the company’s central platform for data-driven decision making and situational intelligence. It is available on AWS, Google Cloud, and Microsoft Azure. It is designed to help create faster deployments and time to value.
Interested in more Reddit Stocks to Buy Now? Here are some investing subreddits for your consideration.
List of Investing subreddits
- r/Investing
- r/Stocks
- r/StockMarket
- r/GlobalMarkets
- r/WallStreetBets
- r/Options
- r/Finance
- r/Bitcoin
- r/Dividends
- r/Cryptocurrency
- r/SecurityAnalysis
- r/AlgoTrading
- r/DayTrading
- r/PennyStocks
Reddit Stocks to Buy Now – Conclusion
There are many options when it comes to Reddit stocks that are worth considering. However, before you invest in any stock, it’s important to review the fundamentals and assess the market before making a decision.
Consider the company’s business model, financials and competitive landscape. Many Reddit stocks can be volatile and may be considered short-term investments. To balance this, you should invest in companies with long-term growth potential and a strong track record. Also, make sure to diversify your portfolio. Don’t put all your eggs in one basket. Spread your risk by investing in a variety of stocks, including Reddit stocks.
Lastly, don’t invest more than you can afford to lose. Those looking for Reddit stocks to buy now are already taking on a significant amount of risk. And while many Reddit investments can be profitable, you should be prepared for negative results as well.
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