5 Reddit’s WallStreetBets Meme Stocks Hedge Funds are Piling Into

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1. Roblox Corporation (NYSE: RBLX)

Number of Hedge Fund Holders: 46   

Roblox Corporation (NYSE: RBLX) is ranked first on our list of 10 Reddit’s WallStreetBets meme stocks hedge funds are piling into. The stock has offered investors returns exceeding 14% over the course of the past three months. The firm owns and runs an online entertainment platform. On June 30, investment advisory Citic Securities initiated coverage on the stock with an Overweight rating and a price target of $96, highlighting that the firm was the leading multiplayer creation and social platform in the world with a growing revenue. 

On May 10, Roblox Corporation (NYSE: RBLX) reported earnings results for the first quarter of 2021, posting a revenue of more than $650 million, up 161% year-on-year and beating market predictions by $572 million. 

At the end of the first quarter of 2021, 46 hedge funds in the database of Insider Monkey held stakes worth $3.3 billion in Roblox Corporation (NYSE: RBLX). 

You can also take a peek at 10 Best Tech ETFs to Buy According to Reddit and Forget AMC and Gamestop: 10 New Stocks Reddit’s WallStreetBets Is Buying.

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