Subreddit r/wallstreetbets was thrust into the spotlight with the epic GameStop (NYSE:GME) short squeeze earlier this year. While red-hot rallies in some of the famous names triggered by the Reddit forum have begun to fizzle out, some new names continue to attract Wall Street’s attention because of their promising long-term growth prospects. SoFi Technologies (SOFI) and Virgin Galactic Holdings (NYSE:SPCE) are two such names. Analysts expect they will rally by 50% or more in price in the near term. So, let’s discuss.Earlier this year, the hype surrounding video game retailer GameStop Corporation (GME) and leading cinema chain AMC Entertainment Holdings, Inc. (NYSE:AMC) threw a spotlight on Reddit forum r/wallstreetbets and the world of retail investing. The popular subreddit triggered a multi-billion-dollar short squeeze and caused a stir in the financial markets.
Buoyed by the meme stock craze, amateur traders on r/wallstreetbets have catapulted shares of several other stocks, including BlackBerry Limited (NYSE:BB) and Clover Health Investments Corporation (CLOV). With retail trading surging, r/wallstreetbets now has close to 11 million users. But now that the popular Reddit stocks are running out of steam, some new names are grabbing the spotlight due to their fundamental strength and solid long-term growth prospects.
r/wallstreetbets stocks SoFi Technologies, Inc. (SOFI) and Virgin Galactic Holdings, Inc. (SPCE) have recently attracted some attention from Wall Street because of their considerable growth potential. Consequently, analysts expect these stocks to gain 50% or more in price in the near term.