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

3. ContextLogic Inc. (NASDAQ: WISH)

Number of Hedge Fund Holders: 25

ContextLogic Inc. (NASDAQ: WISH) is a mobile ecommerce company. It has operations in North America, South, America, and Europe, among other places. The company operates the popular Wish platform which acts as a link between users and merchants. In addition to connecting users with merchants, the firm also provides logistical services to businesses. It is placed third on our list of 10 new stocks Reddit’s WallStreetBets is buying. The company’s shares have returned more than 58% to investors in the past four weeks.

On June 14, ContextLogic Inc. (NASDAQ: WISH) stock jumped by close to 5% after the company announced that it had signed a two year partnership agreement with ecommerce platform PrestaShop, allowing brands on the latter to sell on the marketplace of 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.