In this article, we discuss the 5 stocks both Reddit’s WallStreetBets and hedge funds love. If you want to read our detailed analysis of these stocks, go directly to the 10 Stocks Both Reddit’s WallStreetBets and Hedge Funds Love.
5. ContextLogic Inc. (NASDAQ: WISH)
Number of Hedge Fund Holders: 25
ContextLogic Inc. (NASDAQ: WISH) is ranked fifth on our list of 10 stocks both Reddit’s WallStreetBets and hedge funds love. The stock has offered investors returns exceeding 55% over the course of the past four weeks. The firm operates an online ecommerce platform. On June 21, the share price of the firm jumped more than 18% in a single day as the hype around the company reached fever pitch on the WallStreetBets forum. The firm has become a favorite on the forum as hedge funds attempt to short the stock and retail investors buy it up.
On June 14, ContextLogic Inc. (NASDAQ: WISH) stock surged more than 5% after the firm announced that it had partnered with PrestaShop, an ecommerce platform, to make the merchandise on the latter available on the former.
Out of the hedge funds being tracked by Insider Monkey, New York-based firm JS Capital is a leading shareholder in ContextLogic Inc. (NASDAQ: WISH) with 8.3 million shares worth more than $131 million.