Best Stocks to Buy Now on Reddit – Most Recommended Reddit Stocks

Reddit has become a valuable resource for would-be equity traders due to the rapid growth of subreddits such as r/WallStreetBets and r/Investing. These subreddits offer a platform for beginners and advanced traders to discuss stocks, often resulting in high-potential investment opportunities being presented.

This article will discuss the ten best stocks to buy now on Reddit, exploring why they are so highly rated, before showing you where you can make your stock investment today – with low trading fees. 

Your capital is at risk.

A Closer Look at the Best Stocks to Invest in on Reddit

As you can see from the list above, Reddit’s best stocks hail from various sectors and have a range of different market caps. Thus, by considering a few of these stocks, you’ll have the opportunity to create a diversified portfolio, thereby optimizing your risk-return ratio.

So, without further ado, let’s dive in and explore the best stocks for 2022 on Reddit:

1. Lucky Block (LBLOCK) – Overall Best Stock to Buy Now on Reddit

Topping our list of the best stocks to buy right now on Reddit is Lucky Block. The first thing to note about Lucky Block is that it isn’t actually a stock – it’s a cryptocurrency. However, the reason it makes an appearance on our list is that LBLOCK can offer the same benefits as many top equities, such as capital gains and passive income.

Put simply, Lucky Block is a crypto-gaming platform hosted on the Binance Smart Chain (BSC) that looks to offer daily prize draws that anyone can enter. These draws are facilitated using LBLOCK, Lucky Block’s native token. However, people also buy Lucky Block for its speculative potential, highlighted by the remarkable returns produced earlier in the year.

When Lucky Block launched on PancakeSwap, the token’s price rocketed by over 3,000% from its pre-sale price. This pushed LBLOCK to a fully-diluted market cap of over $750 million, making it one of the fastest-growing cryptocurrencies in history. These returns were even more impressive because Lucky Block’s daily prize draws had not even launched yet – highlighting the remarkable hype around the project.

This hype has transferred to Reddit, where the Lucky Block subreddit now has over 6,000 members. This subreddit provides a place for LBLOCK investors to discuss the platform’s upcoming changes – including the long-awaited launch of daily prize draws, set to occur in the next few weeks.

These prize draws will also mark the beginning of regular rewards for LBLOCK holders since 10% of each daily jackpot will be distributed to investors who have connected their wallets to the platform. Overall, the signs coming from Lucky Block’s official Telegram group continue to be overwhelmingly positive – making this our pick for the best stock to buy on Reddit.

Cryptoassets are a highly volatile unregulated investment product. 

2. Tesla (NASDAQ: TSLA) – Best Electric Vehicle Stock to Buy

Another of the best stocks to invest in on Reddit is Tesla. Tesla needs no introduction, as the electric vehicle giant has become a household name over the past few years under the leadership of eccentric billionaire Elon Musk. Musk has turned Tesla into a powerhouse within the industry, helping push the company to a $1 trillion market cap in 2021.

However, the TSLA share price has fallen by over 45% over the past two months. This can be attributed to numerous factors, such as the production halt at the company’s Shanghai Gigafactory and Elon Musk’s takeover bid for Twitter. The latter point is important to note, as Musk has already sold $8 billion worth of Tesla stock to fund the deal – which has caused shares to turn bearish.

Either way, many people still opt to buy Tesla stock for its long-term potential. Tesla now controls over 15% of the EV market and improved revenues by 73% in Q1 2022, compared to the same period in 2021. Finally, given that Tesla announced another stock split earlier this year, there’s scope for shares to become more accessible, increasing the number of investors.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

3. GameStop (NYSE: GME) – One of the Best Reddit Stocks to Short-Squeeze Potential

Another extremely popular Reddit stock is GameStop. As many equity investors know, GameStop has had a remarkable 18 months, driven mainly by the ‘short-squeeze’ that occurred in early 2021. This was when thousands of retail investors opted to buy GameStop stock, which spooked short-sellers and made them cover their positions – thereby causing the share price to rocket.

Ultimately, this caused GME shares to rise by an incredible 2,712% in a matter of weeks, which is unheard of in the stock market. Much of this buying was driven by members of the r/WallStreetBets subreddit, who took a stance against large institutions deciding to short GME shares. Over time, GameStop became one of the best meme stocks and has retained that tag ever since.

Although shares are down by 81% from January’s all-time highs, many on Reddit still believe the company has potential. GameStop recently launched the ‘GameStop Wallet’, a non-custodial Ethereum wallet that can store cryptos and NFTs. Although these assets have taken a hit recently, GameStop seems to be betting on their recovery – which could prove lucrative over the long term.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

4. Zoom Video Communications (NASDAQ: ZM) – Popular Growth Stock with Rebound Potential

Zoom was one of the best Reddit stocks during the last few years, driven by the company’s helpful video communication services, which allowed people to connect during the height of the COVID-19 pandemic. This helped drive the ZM share price to an all-time high of $588.34 in October 2020 – although shares have slumped by around 83% from that point.

However, many on Reddit still believe that Zoom is one of the most undervalued stocks on the market. The company recently released its fiscal Q1 2023 results, which showcased revenue growth of 12% compared to last year. Zoom also grew enterprise customers by 24%, which is essential as this segment is one of the company’s primary revenue drivers.

Adjusted EPS also beat analysts’ estimates, noted at $1.03 – which prompted management to raise their guidance for the remainder of 2022. These results were viewed favourably on Reddit, with many users on r/Investing discussing whether Zoom could be set for a rebound. Either way, Zoom’s recent uptick in performance makes it one of the best stocks to buy now on Reddit.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

5. Snap Inc (NYSE: SNAP) – Leading Social Media Platform Trading at a Discount

Snap Inc is the company behind the super-popular Snapchat app, which burst onto the scene in 2011. Since then, the company has continued to innovate beyond the app by producing other products, such as a pair of smartglasses called ‘Spectacles’. In addition, Business Insider also reported that the company would be releasing a ‘mini drone’ called Pixy.

However, nothing seems able to stop Snap’s slump right now, with shares down by 84% from September 2021’s all-time highs. As is the case with most growth stocks, Snap has been affected by the prevailing ‘risk-off’ nature in the market, along with the recent interest rate increases from the Fed. This caused management to lower its guidance for Q2 2022.

Snap’s Q1 2022 results do provide some cause for optimism though, as revenue topped $1 billion – a 38% increase from the previous year. Notably, daily active users (DAU) grew by 18%, a crucial metric for a social media platform. Overall, it’s clear that Snap is being affected by the current macroeconomic conditions, although the company still has strong fundamentals that could see it rebound.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

6. Best Buy Co (BYSE: BBY) – Popular Reddit Stock with ‘Meme Stock’ Backing

Another of the best stocks for 2022 on Reddit is Best Buy. Best Buy is a consumer electronics retailer with over 1,100 locations throughout the U.S., Canada, and Puerto Rico. Many Reddit users have noted that Best Buy is one of the best cheap stocks on the market, given that shares are down by 48% from November 2021’s all-time highs.

Best Buy has become a sort-of ‘meme stock’ on r/WallStreetBets, although it’s unclear why so many users have taken a liking to the company. From an objective standpoint, Best Buy does seem to be struggling with the current consumer environment, as rising inflation is a killer for budget retailers. This prompted the company to lower its full-year guidance in its Q1 2022 earnings report.

Comp sales also fell, although they didn’t fall as much as analysts expected. However, one point of optimism is that these poor financials seem to be directly driven by macroeconomic factors rather than anything related to Best Buy’s business model. This hints that the company could turn around once the broader economy begins picking up – leading many on Reddit to add BBY shares to their watchlist.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

7. Twitter (NYSE: TWTR) – Best Reddit Stock with Elon Musk’s Backing

Twitter is a company regularly discussed on numerous popular subreddits – more so now that Elon Musk is in the midst of a protracted takeover bid. Before Musk’s offer to purchase Twitter, the company had faded into the background, with former CEO Jack Dorsey stepping down to focus solely on Block Inc.

However, Musk’s $46.5 billion bid to buy Twitter, citing ‘free speech’ as his motivation, has caused widespread discussion on stock groups such as r/WallStreetBets and r/Investing. Although Twitter used to be one of the best tech stocks on the market, user growth has slowed, and the amount of ‘bot accounts’ on the platform has rocketed.

If Musk were to take over, Twitter could become more crypto-friendly. This has already been evidenced by the recent upgrade that now allows users to tip other users in BTC. In addition, users can even add their crypto wallet addresses to their Twitter bio. These enhancements to the user experience will likely appeal to a new demographic of crypto-savvy users – helping boost user growth over the longer term.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

8. Palantir Technologies (NYSE: PLTR) – Beaten-Down Tech Stock with Long-Term Growth Prospects

Palantir Technologies is a US-based software company set up by Peter Thiel, the co-founder of PayPal. The main focus of Palantir is on ‘Big Data’, and the company is involved in numerous areas, such as counter-terrorism, banking, and the private sector. Palantir became a ‘meme stock’ last year on Reddit, although this company does have superb underlying potential.

Palantir’s recent Q1 2022 earnings report noted revenue growth of 31% compared to Q1 2021, which beat analysts’ estimates. However, the company did experience a dramatic adjusted net income decline, which prompted a significant sell-off. At the time of writing, PLTR shares are trading at just $7.55 – down 83% from January 2021’s all-time highs.

There is still hope for Palantir, as management still believes they can grow annual revenue by 30% in each of the following three years. The company also continues to expand its commercial customers, which now generate almost as much revenue as Palantir’s government clients. All in all, there’s no doubt that Palantir has had a tough year – but many analysts (and Redditors) believe the company still has enormous potential.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

9. Canopy Growth Corp (NASDAQ: CGC) – One of the Best Penny Stocks on Reddit

One of the best marijuana stocks for 2022 on Reddit is Canopy Growth. Canopy Growth is a cannabis company based in Canada, yet also has operations in Spain, Germany, and a selection of South American countries. According to Yahoo Finance, Canopy Growth has a market cap of $2.02bn at the time of writing – making it the sixth-largest cannabis company globally.

The CGC share price is currently trading at $4.76, meaning it falls into the bracket of ‘penny stocks’. The exciting thing about the company is that it has already acquired a US-based marijuana company a few years back, which means Canopy Growth is well-positioned to benefit from Federal marijuana legalization. Furthermore, the company has also benefitted from investment by Constellation Brands, which is helping subsidize losses.

Canopy’s price-to-sales ratio over the trailing twelve months is just 5.20, highlighting that it could be undervalued relative to revenue. Much hinges on marijuana legalization, which would be massive as Canopy could tap into the US market. However, the stock is still regularly discussed on the r/weedstocks subreddit, meaning it’s worth keeping an eye on in the coming years.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

10. JPMorgan Chase (NYSE: JPM) – Best Reddit Stock for Exposure to the Financial Sector

Rounding off our list of the best stocks to buy now on Reddit is JPMorgan Chase. JPMorgan Chase is a huge investment bank headquartered in New York that is currently the largest banking institution in the world, as measured by market cap. The company has over 270,000 employees worldwide and offers a vast array of services, including private banking, investment banking, treasury services, and more.

JPMorgan Chase is consistently discussed on r/StockMarket, mainly because banking stocks tend to be affected by broader economic trends. JPMorgan’s recent investor day helped push the JPM share price higher as management boosted guidance for the remainder of the year. This is being driven by rising interest rates, which help increase JPMorgan’s net interest income.

JPMorgan also has a solid balance sheet, with over $3.9 trillion in assets at the end of Q1 2022. Furthermore, JPMorgan still pays an attractive dividend yield of 3.21%, which is solid for a banking stock. Overall, it’s likely JPM shares will continue to be discussed on Reddit due to their link to the broader economy and their rebound potential in the weeks ahead.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

Best Reddit Stocks Groups

If you’re looking to invest in popular stocks on Reddit, it’s vital to understand which groups offer the best place for logical and valuable discussions. With that in mind, we’ve scoured the platform and found five subreddits which have proved to be valuable investing resources:

r/WallStreetBets

Leading the way when it comes to Reddit stocks groups is WallStreetBets. Many of the best new stocks that have produced market-beating returns were initially discussed on the WallStreetBets subreddit, as the forum boasts over 12 million members.

The primary demographic on this subreddit is retail traders, most of whom are happy to invest in highly risky assets. WallStreetBets can be filtered by various categories, including memes, losses, and due diligence. There’s also a stickied thread where investors can discuss the trades they are thinking about placing and receive feedback.

r/StockMarket

Another Reddit stock group to be aware of is r/StockMarket. Like r/WallStreetBets, this group focuses solely on the stock market and boasts over 2 million members. However, r/StockMarket takes a more serious tone than r/WallStreetBets, leading to more in-depth discussions.

This subreddit is populated with interesting articles and discussions on the latest goings-on within the equity market. Users can also filter the group to remove any memes or show only memes if that’s their wish! There’s also scope to filter by ‘Discussion’ to show advanced information on specific companies. 

r/pennystocks

As the name suggests, r/pennystocks is a subreddit dedicated to discussing the best penny stocks. Penny stocks are defined as stocks from a small company that are typically valued at less than $5, although this definition can be flexible. As such, these stocks are inherently risky yet can sometimes provide incredible returns.

r/pennystocks has over 1.8 million members and has an open policy, allowing both humorous and serious posts. There’s also a wiki section detailing all the basics of penny stock investing for beginner traders. Finally, the subreddit even has a ‘Daily Plays’ sticky thread, where traders can post their trade ideas and create discussions around them. 

r/investing

Many of the best stocks to buy now on Reddit are consistently noted on r/investing. This subreddit has 2 million members and focuses solely on serious posts, with no memes. Most of the posts are related to market events, such as earnings releases, which provide a jumping-off point for in-depth discussions.

This subreddit isn’t as active as the other ones on our list due to the advanced nature of some of the discussions. However, there is a helpful ‘Daily General Discussion’ thread where users can have real-time debates on stock-related topics.

r/RobinHood

Rounding off our list of Reddit stock groups is r/RobinHood. RobinHood is one of the best stock trading platforms for US-based traders, offering a way to trade equities with no commissions. Due to this, RobinHood has become popular with retail traders – so much so that a subreddit was created that is dedicated to the platform.

r/RobinHood has nearly 1 million members and discusses the broader stock market and the RobinHood trading platform. Much of the discussion is focused on questions related to the RobinHood app, although these are intertwined with threads on various equities. Notably, most of the topics are related to beginners, so advanced investors may be better suited to one of the other groups on this list.

Where to Buy the Best Stocks to Buy According to Reddit

Now that you have an idea of what the best stocks for 2022 on Reddit are, let’s turn our attention to the investment process. When trading stocks, it’s crucial to set up an account with a licensed trading platform – preferably regulated within the country that you will be trading in.

Through our research and testing, we’ve found that one of the best options for this is eToro. eToro is one of the world’s largest online brokers, with over 24 million registered users. The broker has an exceptional reputation in terms of safety and is regulated by top-tier organizations like FinCEN, FINRA, ASIC, CySEC, and the FCA.

The most appealing element of the eToro platform is that stock trades are commission-free. This means that the only fee to be aware of is the bid/ask spread, which can vary from asset to asset. eToro also doesn’t charge any management, administration, or ticketing fees, making the entire process extremely cost-effective.

eToro’s minimum deposit threshold is only $10, which can be made via credit/debit card, bank transfer, or many popular e-wallets (e.g. PayPal). Deposits are free to make and can be used instantly to make trades. Since eToro offers fractional investing, positions can be opened from only $10, making it easy to start small and build your way up.

eToro also offers one of the best stock trading apps on the market, available to download on iOS and Android. Investors can trade over 2,500 stocks using the app from various leading exchanges. There’s even a handy ‘CopyPortfolio’ feature that allows users to invest in pre-made portfolios that are professionally managed – all without paying any management fees.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

Best Stocks to Buy Now on Reddit – Conclusion

This article has taken an in-depth look at the best stocks to buy now on Reddit, touching on why they are so valued and where you can make your stock investment today.

Top of the list right now when it comes to Reddit stocks is Lucky Block. Although Lucky Block is a cryptocurrency rather than an equity, investors are still clamouring to add it to their portfolios due to LBLOCK’s capital gains and passive income potential. In addition, Lucky Block also adds an essential element of diversification, leading to it becoming super-popular on Reddit.

Cryptoassets are a highly volatile unregulated investment product.

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