5 Stocks Both Reddit’s WallStreetBets and Hedge Funds Love

2. Advanced Micro Devices, Inc. (NASDAQ: AMD)

Number of Hedge Fund Holders: 62

Advanced Micro Devices, Inc. (NASDAQ: AMD) is placed second on our list of 10 stocks both Reddit’s WallStreetBets and hedge funds love.The company’s shares have returned 79% to investors in the past twelve months. The firm makes and sells semiconductor chips. AMD stock has been gaining in recent weeks amid a global shortage of chips that has led to an increase in chip prices. The number of mentions of the firm on the WallStreetBets forum has been increasing too. 

On June 30, the European Union granted Advanced Micro Devices, Inc. (NASDAQ: AMD) unconditional approval for the purchase of Xilinx, a semiconductor manufacturing company, for a reported $35 billion deal. 

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Advanced Micro Devices, Inc. (NASDAQ: AMD) with 25 million shares worth more than $1.9 billion.