5 Reddit YOLO Stocks That Are Losing Ground

In this article, we discuss the 5 Reddit YOLO stocks that are losing ground. If you want to read our detailed analysis of these stocks, go directly to the 10 Reddit YOLO Stocks That Are Losing Ground.

5. Five9, Inc. (NASDAQ: FIVN)

Number of Hedge Fund Holders: 45

Percentage Loss in Past Five Days: 7.3%   

Five9, Inc. (NASDAQ: FIVN) is ranked fifth on our list of 10 Reddit YOLO stocks that are losing ground. The company markets cloud software for contact centers and operates from California. 

On August 18, investment advisory UBS downgraded Five9, Inc. (NASDAQ: FIVN) stock to Neutral from Buy with a price target of $200, noting that discussions had revealed that the enterprise demand for the services offered by the firm were slowing. 

At the end of the second quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $2.1 billion in Five9, Inc. (NASDAQ: FIVN), the same as in the preceding quarter worth $1.6 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Five9, Inc. (NASDAQ: FIVN) was one of them. Here is what the fund said:

“Five9 is a cloud-based contact center as a service software provider that is replacing aging on-premise legacy solutions that dominate the installed base. Companies are being forced to modernize and cloud penetration is still low; Five9 is positioned to benefit and should see further growth driven by its cross-selling add-on modules and an AI product that generates high revenue.”