E Reddit Stocks That Are Waking Up In April 2021

Reddit stocks have become synonymous with the retail trading community. Whether we're talking about GameStop (GME) or Tilray (TLRY), mom and pop traders are rallying together behind public companies in 2021. Thanks to the pandemic, we saw millions of new traders come into the stock market looking to make money. Obviously, furloughs and layoffs have started to subside. Even with people going back to work, it hasn't stopped people from trading stocks. This could be one of the reasons we've seen lighter volumes. 

reddit stocks to buy or should you avoid them

The reopening has begun, which means a new work/trade balance is likely playing a role right now. Does this mean markets are dead? Well, obviously, that hasn't been the case. Even with the lighter volumes, major indexes are sleepily trading higher. The S&P ETF (SPY) went on a 13 day run without having a red close. Even with the pause on April 14th, the move ensued on the 15th with another new all-time high. Other indexes like the NASDAQ and Dow followed suit. Looking at the corresponding ETFs (DIA) and (QQQ), you can clearly see this strength.

Where Are Reddit Traders Looking Right Now?

Where are retail traders looking right now? Tech and healthcare have played their roles this week. Both the SPDR Tech (XLK) and Healthcare (XLV) ETFs have surged. Thanks to Coinbase's (COIN) IPO, eyes were back on tech in a big way on Wednesday, helping lift markets briefly. You can also see biotech taking a page out of the broader market's book. The Nasdaq Biotech ETF (IBB) has now gone on a 3-day win-streak bouncing from Monday's test of the 200-day moving average at $145.67.  

(Click on image to enlarge)

IBB Biotech ETF Reddit Stocks

IPOs this week, like COIN, have put a focus back on emerging businesses. TuSimple Holdings (TSP), an autonomous vehicle company debuts on April 15th along with eSports Technologies Inc. (EBET) and AppLovin (APP). So, tech could be a big point of interest right now as far as Reddit stocks are concerned. You've also got to look at some of the cheaper names in the stock market today. Reddit penny stocks have played their own role in the rise of the retail investor. These have been trending hand-in-hand with the "Robinhood penny stocks" trend we saw grow last year. However you define it, retail traders remain a benchmark to reference, and social media plays its part in that.

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William K. 3 weeks ago Member's comment

Interesting and educational. I had wondered about the risk involved with some of those really cheap stocks. Now I understand a bit more. Thanks.

Adam Reynolds 3 weeks ago Member's comment

Are you specifically talking about Wall Street Bets on Reddit? Or were you looking at Reddit in general? What are some other good reddit groups to look at for stock picking?

Small Cap Reporter 3 weeks ago Author's comment

not just wall street bets. There are many subreddits.