5 Best Websites To Research Stocks

4. Reddit

Reddit is an internet platform that is often frequented by retail investors to discuss their latest trades, trending stocks, portfolio gains and losses, and the macroeconomic environment. Reddit’s most popular investing forum is WallStreetBets, a community of 12.5 million Redditors sharing their portfolio compositions and personal trade ideas. Other important subreddits for stock research include r/investing, r/stocks, r/biotech, and r/pennystocks. Reddit is one of the top websites for stock research. 

WallStreetBets has created multiple meme stocks over the years, as Redditors are a strong community and can easily drive up prices and influence the stock market. One of the most popular meme stocks of 2021 was GameStop Corp. (NYSE:GME), and Redditors are still actively purchasing the shares. GameStop Corp. (NYSE:GME) is a Texas-based provider of games and entertainment products. 21 hedge funds reported owning stakes in GameStop Corp. (NYSE:GME) as of June 30, down from 31 funds a quarter earlier. Mason Capital Management held one of the leading positions in the company, comprising 518,445 shares worth over $19 million. 

Here is what Bronte Capital Amalthea Fund had to say about GameStop Corp. (NYSE:GME) in its Q1 2022 investor letter:

“Gamestop is a retailer of video games on DVD ROM trying hard (and maybe with some success) to reinvent itself as an alternative computer game  distributor. The company raised enough money that bankruptcy is not an immediately likely outcome. (GME would have gone bankrupt except for the willingness of largely retail investors to provide them with much more cash.)

Both have bad financial results. Gamestop’s last financial results were terrible. And both stocks more than doubled very rapidly in March from market caps that were absurd to market caps that are more absurd. We are of course completely aware that they can double again and again after that. Their valuations are absurd but if you double the price they are not twice as absurd. They are just similarly disconnected from reality.

The reason we want to talk about them is that it is indicative of what is going on. Gamestop, the most meme of all stocks, announced a possible stock split and the stock, after market that day, traded up 17 percent. We could joke that every child knows that cutting a pizza into more slices yields more pizza. But in this market, not accepting that stock splits add value is a recipe for losing money.”