Original Content: Business Upside
Introduction:
The trading community on Reddit gained much prominence after the entire Gamestop movement in 2021. Though investors from the traditional school of business might be ready to dismiss this growing Reddit community of traders, they are in no way of lesser importance. The community of Reddit traders has widely used Robinhood, and this could be listed as one of the contributing factors to why they are not taken seriously. Robinhood, a trading app, primarily became the reason for the growth in meme stocks like AMC Entertainment and, of course, the now-famous Gamestop. However, this is just a misnomer that only meme stocks have seen a hike on this app. Robinhood’s highest grossing stock was Apple, a world-renowned company that every legitimate investor wants to invest in. this is not the only example of the stock of a famous company being owned by traders on the Reddit community. Several others could be recorded by a software called Marketbeat, which keeps track of the number of times a particular stock has been mentioned online to measure how popular it is. They also accumulate the entire data and provide an overall ranking for the Reddit trading community. This helps buyers understand which stocks have the potential for future growth based on the number of online mentions they have received on Reddit.
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