Forget AMC and Gamestop: 5 New Stocks Reddit’s WallStreetBets Is Buying

3. Meta Platforms Inc (NASDAQ: META)

Number of Hedge Fund Investors: 234

Meta Platforms Inc (NASDAQ: META) shares have gained about 166% year to date through December 9. Redditors in the WallStreetBets community are enthusiastic about the stock’s future amid AI and other growth catalysts. Recently, a Redditor in the WSB community made waves after he invested all his life savings (YOLO’d) buying Meta Platforms Inc (NASDAQ: META) call options, only to suffer huge losses, which made thousands of Redditors and the admin of the community worried about this Redditor’s well-being.

Earlier this month, Mark Zuckerberg disclosed in an SEC filings that he intends to sell 28,009 shares of Meta Platforms Inc (NASDAQ: META), worth about $9.06 million. Meta Platforms Inc’s (NASDAQ: META) COO Javier Olivan also disclosed the sale of an aggregate of 6,077 shares for about $2.06 million.

Here is what White Brook Capital has to say about Meta Platforms, Inc. (NASDAQ:META) in its Q3 2023 investor letter:

“The magnificent seven, that underpin the S&P 500 performance, which includes Meta Platforms, Inc. (NASDAQ:META), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”