Beyond GameStop: Reddit’s WallStreetBets is Now Targeting These 5 Stocks

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In this article, we discuss the 5 stocks Reddit’s WallStreetBets is now targeting. If you want to read our detailed analysis of these stocks, go directly to Beyond GameStop: Reddit’s WallStreetBets is Now Targeting These 10 Stocks.

5. SGOCO Group, Ltd. (NASDAQ: SGOC)

Number of Hedge Fund Holders: 3  

SGOCO Group, Ltd. (NASDAQ: SGOC) is a Hong Kong-based firm that provides money lending services. It is ranked fifth on our list of 10 stocks Reddit’s WallStreetBets is now targeting. The company’s shares have returned 1,104% to investors in the past twelve months. Over the past few years, the firm has transformed focus from just money lending to stakes in the artificial intelligence, environmental, property, and energy saving businesses. The company has gained prominence in recent weeks amid social media chatter. 

On July 12, SGOCO Group, Ltd. (NASDAQ: SGOC) stock soared 175% after mentions on internet forums. This brought the year-to-date gain for the stock, which hasn’t displayed significant increases in earnings or sales numbers, to 1,800%. 

At the end of the first quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $232,000 in SGOCO Group, Ltd. (NASDAQ: SGOC), up from 1 in the previous quarter worth $19,000.

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