3 Reddit Stocks That Could Roar in Q2

3 Reddit Stocks That Could Roar in Q2

3 Reddit Stocks That Could Roar in Q2 | DeviceDaily.com

 
  • Elon Musk will be able to focus on Tesla (TSLA) profits now that he’s not taking a spot on Twitter’s (TWTR) board.
  • Apple (AAPL) could see $ 20 billion in sales this year from the iPhone SE 3.
  • BitNile (NILE) says it’s debt-free and investing more money into Bitcoin (BTC-USD) miners.

Today’s retail investors have a wealth of information at their fingerprints, with one of the most popular sources being discussions on the Reddit platform. As such, stocks that are generating a lot of buzz there can be referred to as “Reddit stocks.”

Reddit stocks run the gamut — from stable index funds to questionable meme plays like GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC). You’ll see mega-cap stocks like Amazon (NASDAQ:AMZN) and you’ll see small companies like Forestar Group (NYSE:FOR), a Texas-based property development company.

So really, there’s something for every taste.

The trick to sifting through Reddit stocks is to figure out what’s a good option for your investing style and what’s just noise. Not every Reddit stock will be a good choice for you.

For the sake of this exercise, however, we’ll look at some Reddit stocks that you can reasonably expect to show gains in the second quarter. Each of these names are ranked among the 20 most-trending stocks on Reddit over the last 24 hours.

Ticker Company Current Price
TSLA Tesla $ 973.90
AAPL Apple $ 167.29
NILE BitNile 54 cents

Tesla (TSLA)

Reddit trending rank: No. 8

It doesn’t matter if it’s the second quarter or not — Tesla (NASDAQ:TSLA) stock will always be one of the most-discussed names on the Reddit platform. And with good reason.

The EV company saw its stock go up nearly 1,600% over the last five years. It executed a 5-for-1 stock split just two years ago, and now with a market capitalization of more than $ 1 trillion it’s planning to have another split later this year.

Tesla launched its fourth Gigafactory, this one in Austin, Texas, last week. That comes just weeks after it finally opened its doors for its long-awaited Berlin Gigafactory.

In the fourth quarter, TSLA reported earnings of $ 17.72 billion, beating analysts’ expectations for $ 16.64 billion. Earnings were $ 2.54 per share, which was better than the expected $ 2.38 per share.

Tesla stock slipped 4% on the day Twitter (NYSE:TWTR) announced that Tesla CEO Elon Musk wouldn’t be joining the social media company’s board of directors after all. But I don’t see that as a concern — if anything, I’d rather have Musk focused squarely on keeping the TSLA stock profits rolling in.

Apple (AAPL)

Reddit trending rank: No. 15

I readily admit that I’m a huge Apple (NASDAQ:AAPL) stock bull. And I think it’s going to have an outstanding yet in 2022, so I’m adding this to my list of Reddit stocks to buy for Q2.

The thing that I love the most about Apple stock right now is the opportunity it has with the iPhone SE 3. The company’s latest smartphone has 5G technology and comes at a pretty low price of $ 429.

That’s an attractive price point for people with Apple and Android phones who have been waiting for a decently priced 5G phone to upgrade to. Analyst Amit Daryanani says Apple should see $ 20 billion in sales this year alone from iPhone sales.

Apple set a new all-time record when it reported fiscal Q1 2022 earnings earlier this year. Revenue jumped 11% to $ 123.9 billion, versus analyst expectations of $ 118.66 billion.

Earnings-per-share were also up by 25% on a year-over-year basis, coming in at $ 2.10 per share. Analysts had expected $ 1.89.

BitNile Holdings (NILE)

Reddit trending rank: No. 9

I readily admit that I lean heavily to large-cap stocks when I craft my own portfolio. But BitNile Holdings (NYSEAMERICAN:NILE) stock has my attention.

A true penny stock and priced at less than 60 cents per share, BitNile is a provider of Bitcoin (BTC-USD) mining and data center operations. It operates 1,705 Bitcoin miners. It also has a majority interest in Alliance Cloud Services, which has a 617,00-square-foot data center. The company mined 31.7 Bitcoin in March, bringing its total mining efforts to 132.6 Bitcoin.

In addition, BitNile has 81% ownership of Imperalis Holding Corp. (OTCMKTS:IMHC), a Las Vegas-based company that makes cannabidiol (CBD) personal care products.

Yeah, it’s an interesting company. Formerly known as Ault Global Holdings, it’s operated by Milton “Todd” Ault III, a former broker and now a YouTube personality.

BitNile issued a financial update on April 5 announcing that it has paid off $ 66 million in debt and is now debt-free, so it plans to invest another $ 70 million to $ 80 million into Bitcoin miners and infrastructure.

As recently as September 2021, NILE stock was priced at $ 2.83, so it could be a bargain now. There are only two analysts who set price targets on NILE stock, for $ 6 and $ 7, respectively.

NILE stock could be quite the bargain in the second quarter.

Image Credit: Brett Jordan; Pexels; Thank you!

The post 3 Reddit Stocks That Could Roar in Q2 appeared first on ReadWrite.

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