The group of retail stock traders has successfully orchestrated targeted buying campaigns and produced viral social media movements associated with a handful of heavily shorted stocks.
Clover Health Investments is a Medicare insurance technology company backed by influential venture capitalist Chamath Palihapitiya, and it has become the latest Reddit short squeeze phenomenon.
However, the health crisis hit BlackBerry hard, and the company reported a $1.1 billion net loss in fiscal 2021.
However, Reddit traders rallied around GameStop in January, sending its stock price skyrocketing from less than $18 to as high as $483 in a matter of weeks.
However, WallStreetBets got the hashtag #saveAMC trending on social media, and AMC took advantage of its soaring share price to raise hundreds of millions of dollars of desperately needed capital.
Heading into June, some WallStreetBets posters appear to be on the lookout for a potential repeat performance from Tilray in the weeks ahead.
Unlike most of the other Reddit favorites, Nokia shares appear to be a compelling value as they are priced at just 18.2 times forward earnings.
Sundial also reported another net loss of 134.4 million Canadian dollars as it continues its cycle of selling shares to raise capital and then burning through that cash quarter after quarter.
The company recently said it can maintain revenue growth of more than 30% for at least the next four years, and WallStreetBets is still full of Palantir believers.