As the interest in popular meme stocks has begun to wane, retail investors are looking now for new names discussed on Reddit. As such, highly discussed stocks BioNTech (BNTX) and McAfee (NOK) may be poised for a turbocharged rally due to their sound fundamentals and solid growth prospects. So, we believe these two Reddit stocks are still worth owning. Read on.Subreddit r/wallstreetbets (WSB) has transformed the world of investing and significantly reshaped the financial markets. WSB’s subscription growth ballooned this year, with more amateur traders joining the bandwagon in boosting the shares of heavily shorted stocks such as GameStop Corporation (NYSE:GME), AMC Entertainment Holdings, Inc. (NYSE:AMC), BlackBerry Limited (NYSE:BB), to name a few.
Although a monstrous short squeeze has pushed GME’s stock up 3,773.3% over the past year, the frenzy appears to have cooled of late. GME’s stock is down 15.7% over the past month, while AMC’s shares have declined 4% over the past five days. While most popular Reddit stocks have been short-term winners, some new names continue to attract investors because of their promising long-term growth potential.
BioNTech SE (NASDAQ:BNTX) and McAfee Corp. (NOK) are two Reddit stocks that have the potential to deliver high returns based on their solid business models and financial strength. These two stocks have been gaining momentum lately and we believe they are well-positioned to maintain their momentum.