Over the last year, Reddit stocks have become an interesting phenomenon that has created the “Reddit effect” and even started the much-talked battle between Reddit users and the large institutions of Wall Street. This forum website has opened up the stock market to a new generation of tech-savvy investors and completely changed the game of trading.
The buzz around Reddit stocks started quite recently in early 2021 when the Reddit community was the driving force behind some of the most unexpected movements in the stock and crypto markets including GameStop, Dogecoin, weed stocks, etc.
But, how do you join these Reddit sub-groups and what are the most popular and effective subreddit communities you need to join in order to find the best Reddit stocks out there? In this article, we’ll help you answer these questions and suggest popular Reddit trading groups.
Finding stocks on Reddit – How does it work?
Essentially, Reddit, which is the largest forum community in the world with nearly 1.7 billion monthly visitors, has thousands of organized forums called Subreddit or communities where you can get advice on a certain topic, share information, and discuss with other users. For investors and day traders, Reddit is a great news source but also a forum website where users can find the underground stocks, or in other words “meme stocks” (stocks that rise or fall drastically due to social media hype).
With that in mind, here are some of the best investing subreddit groups where you can find useful trading insights.
WallStreetBets is certainly one of the largest finance-related communities on Reddit. This subreddit group, which has over 10.7 million members who call themself “degenerates” and have developed their own financial jargon, is said by many to be responsible for some of the biggest stock movements in 2021.
This was the case in January when the WallStreetBets community pushed GameStop shares from around $20 per share to $480 in just two weeks. The group is also presumably responsible for volatile price movements in AMC shares, Blackberry, Macy’s, and more.
While WallStreetBets is primarily a subreddit forum for ‘meme stocks’, r/investing covers every aspect of investments and trading including news and updates, technical analysis forecasts, earnings results, IPOs, etc. Plus, this is the ideal subreddit group to find answers about reputable online trading platforms, fees on different brokers, good stock trading courses, etc.
Due to the growing popularity of the Robinhood trading app in recent years, it is no wonder that the r/robinhood subreddit is another excellent place to find trading ideas. Basically, the group is mainly involved in the functionality of the Robinhood trading app, but there are also lots of investment discussions and market updates that can help traders get the necessary edge in the stock market.
If you are into algo trading, then this subreddit group is the perfect place for you to find discussions about automated trading platforms, programming, VPS solutions, quantitative trading, statistical methods, automated trading strategies, etc.
The way people trade stocks has been drastically changed since the rise of the internet, and the use of mobile trading apps. Nowadays, a young generation of tech-savvies on online forums is challenging financial institutions, pushing prices in a certain direction, and taking the ‘pump and dump’ strategy to a different court.
This means that in the new era of digital finance, traders must be aware of all news sources and forum groups that may have an impact on financial assets prices. As such, whether you are a beginner investor or an experienced trader, joining Reddit stock and crypto groups might be a great addition to your trading tools.
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