Top 11 meme stocks this week on Reddit: SmileDirectClub roars higher, Apple buzzes with iPhone announcement, and GameStop tops the charts again


Apple generated buzz on Reddit ahead of its Apple Event.

  • Meme stocks like AMC Entertainment have outperformed the market since Labor Day.
  • Redditors are currently buzzing about Apple as it announces a new version of the iPhone.
  • Here are the top 11 meme stocks on Reddit right now, according to HypeEquity.
  • See more stories on Insider’s business page.

Meme stocks are trouncing the broader market as individual investors discuss their favorite equities in online forums on sites like Reddit. AMC Entertainment (AMC), a popular name among retail traders, is up 17% since Labor Day weekend while the S&P 500 has slipped 1.4%.

These so-called meme stocks don’t have a dictionary definition, but they’re not too tough to identify. Stocks that surge on an upswing in trading volume and have a sizable online fanbase fit the bill. Social media users hoping to send shares “to the moon” typically drive the rallies.

GameStop (GME) and AMC Entertainment, the two original meme stocks, have risen 940% and 2,269%, respectively, this year. These eye-popping surges have inspired investors to find the next big meme stock, but it takes a ton of time and research to do so.

Enter HypeEquity, a site designed by software engineer Travis Rehl to make the search easier. It tracks and analyzes posts about stocks in investing forums on Reddit and is designed to help investors find popular and fast-rising meme stocks.

“I made some money off of GameStop, and I said, ‘Hey, this is pretty cool, I want to do more of this,'” Rehl told Insider. “And I quickly realized it’s impossible to do more of it because you have to spend so much time to research and learn. So I said to myself, ‘I’ll make other people do it for me.'” Rehl continued, “Letting other people do stock discovery and talk about it, and then they’ll bubble to the top, the top 10 things I should be looking at, and I’ll spend my time on those.”

HypeEquity has two top 10 lists of stocks on its homepage: hyped stocks, or those with the most mentions and high trading volumes, and trending stocks, or the fastest risers on Reddit.

All of the following names appear on both lists, except for two: Alibaba (BABA), a hyped stock, and Ocugen (OCGN), a trending stock.

Below is a list of the top 11 stocks on Reddit from HypeEquity’s hyped stocks and trending stocks pages, as of early Tuesday. Along with each stock are its ticker and the following data from HypeEquity: category (hyped or trending), social mentions, and social volume percent change.

1. GameStop

1. GameStop Corp.

Ticker: GME

Category: Hyped, Trending

Social mentions: 765

Social volume change: 259%

2. Cameco

2. Cameco Corp.

Ticker: CCJ

Category: Hyped, Trending

Social mentions: 742

Social volume change: 139%

3. Clover Health

3. Clover Health

Ticker: CLOV

Category: Hyped, Trending

Social mentions: 401

Social volume change: 157%

4. AMC Entertainment

4. AMC Entertainment Holdings

Ticker: AMC

Category: Hyped, Trending

Social mentions: 303

Social volume change: 91.8%

5. Apple

5. Apple Inc.

Ticker: AAPL

Category: Hyped, Trending

Social mentions: 237

Social volume change: 59.1%

6. SmileDirectClub

6. SmileDirectClub Inc.

Ticker: SDC

Category: Hyped, Trending

Social mentions: 230

Social volume change: 1,433%

7. Tesla

7. Tesla Inc.

Ticker: TSLA

Category: Hyped, Trending

Social mentions: 205

Social volume change: 130%

8. Clean Energy Fuels

8. Clean Energy Fuels Corp

Ticker: CLNE

Category: Hyped, Trending

Social mentions: 138

Social volume change: 4,500%

9. Alibaba

9. Alibaba Group Holding Ltd.

Ticker: BABA

Category: Hyped

Social mentions: 98

Social volume change: -57.6%

10. Palantir

10. Palantir

Ticker: PLTR

Category: Hyped, Trending

Social mentions: 88

Social volume change: 63%

11. Ocugen

11. Ocugen Inc.

Ticker: OCGN

Category: Trending

Social mentions: 68

Social volume change: 750%

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