5 Stocks Reddit’s WallStreetBets is Buying in July 2021

3. ContextLogic Inc. (NASDAQ: WISH)

Number of Hedge Fund Holders: 25

ContextLogic Inc. (NASDAQ: WISH) is a mobile ecommerce firm based in California. It is ranked third on our list of 10 stocks Reddit’s WallStreetBets is buying in July 2021. The company’s shares have returned 55% to investors in the past four weeks. On July 6, the share price of the firm jumped close to 7% amid an increase in the number of mentions of the stock on Reddit forum WallStreetBets. 

On July 6, the Dutch arm of ContextLogic Inc. (NASDAQ: WISH) announced that it had received a payments service license that would allow the company to operate in the European Union region. The share price of the firm jumped more than 5% after the announcement. 

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.