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

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1. Clover Health Investments, Corp. (NASDAQ: CLOV)

Number of Hedge Fund Holders: 23     

Clover Health Investments, Corp. (NASDAQ: CLOV) is a health insurance provider that operates through a software platform. It is placed first on our list of 10 new stocks Reddit’s WallStreetBets is buying. The company’s shares have returned more than 76% to investors in the past three months. The share of the firm, which is backed by prominent venture capitalist Chamath Palihapitiya, has jumped in recent weeks and SEC filings reveal that the company is presently in a short squeeze. 

Chamath Palihapitiya

On June 24, Clover Health Investments, Corp. (NASDAQ: CLOV) stock surged 8% after the firm announced that it would be expanding into more than 100 new markets, more than doubling its presence globally, with a focus on healthcare for underserved communities.

Out of the hedge funds being tracked by Insider Monkey, San Francisco-based investment firm Greenoaks Capital is a leading shareholder in Clover Health Investments, Corp. (NASDAQ: CLOV) with 96.3 million shares worth more than $728 million.  

You can also take a peek at Billionaire Stan Druckenmiller’s Top 10 Stock Picks and Billionaire Julian Robertson On Interest Rates and His Top Stock Picks For 2021.

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