© Reuters. 3 Meme Stocks Wall Street Predicts Will Rally by 40% or More
While the hype surrounding popular short-squeeze candidates is fading, some new names have been hogging the spotlight of late. Wall Street analysts expect Alibaba Group (NYSE:), Tilray (NASDAQ:), and ContextLogic (WISH) to gain 40% or more in price in the coming months because they are among the most-mentioned stocks on subreddit WallStreetBets. So, let’s discuss.Meme stocks remain a controversial topic in the stock market because they generate momentum based primarily on retail investors’ interest due to the buzz around them on various social media platforms. While the massive GameStop Corporation (NYSE:) short squeeze earlier this year caused a stir in the market, the hype surrounding some famous names has begun to fade. However, some new names have been added to the meme stock frenzy and are causing buzz on the subreddit WallStreetBets.
Despite criticisms about explosive price gains being delivered absent commensurate fundamental strength, increasing retail trading based solely on social-media hype is far from over. Indeed, investors are actively looking for new short-squeeze candidates.
Alibaba Group Holding Limited (BABA), Tilray, Inc. (TLRY), and ContextLogic Inc. (WISH) are currently among the most-mentioned names on WallStreetBets. Consequently, Wall Street analysts expect these stocks to rally by 40% or more in price in the near term.
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