WallStreetBets Stock Tips, Week 3 October Recap


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Each week we bring you some of the fundamentally strong and reasonably priced stocks that are popular on the Reddit WallStreetBets group. Here are the five best WallStreetBets stocks you can buy right now.

  1. SoFi (NYSE: SOFI)

SoFi is currently one of the popular actions of WallStreetBets. It went public earlier this year through a reverse merger with Social Capital Hedosophia Holdings IV (IPOE). SPAC (Special Purpose Acquisition Company) was sponsored by Chamath Palihapitiya who also released Virgin Galactic, OpenDoor and Clover Health.

WallStreetBets likes SOFI stocks in hopes of a banking charter

WallStreetBets members are optimistic about SOFI’s share, optimistic about its banking charter. Some Wall Street analysts are also bullish on SOFI due to the impending banking charter. Earlier this week, Morgan Stanley issued a bullish note on SOFI stock. The brokerage cited the expected banking charter as a bullish driver for the title, with its surge in its student loan refinancing being the other.

“Student loan refinancing has been frozen since the US government administration postponed federal student loans in March 2020. Why refinance at a lower rate when you have nothing to pay at all during the postponement and just earn interest on your federal loan? In February 2022, everything changes, ”said Morgan Stanley analyst Betsy Graseck in her note.

She also added, “Competition is increasing among challenger FinTechs for Gen Y and Z, but SOFI has a head start given its roots in the most difficult part of consumer credit, lending, as well as ‘a robust digital offer. The brokerage has assigned a target price of $ 25 to SOFI.

Overall, while SOFI has been a popular WallStreetBets stock and has risen in Reddit’s short-squeeze rally, it is among the top fintech names to own given its strong and diverse business model.

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  1. Connect the power supply (NYSE: PLUG)

Green energy stocks have generally been popular among retail traders. Currently, Plug Power is one of the popular actions of WallStreetBets. The action made the news after partnering with Airbus to explore the use of hydrogen in air travel. The company has entered into several partnerships and earlier this year South Korean conglomerate SK Group invested more than $ 1.5 billion in the company. The two companies are said to target the hydrogen market in South Korea.

plug is a stock of wallstreetbets

WallStreetBets has a flair for green energy stocks

WallStreetBets members are optimistic about the Plug Power action as part of the partnership with Airbus. In addition, PLUG is said to be among the beneficiaries of Biden’s infrastructure bill as it has also spent on hydrogen projects. Morgan Stanley also raised the target share price from $ 35 to $ 40. The brokerage is bullish on the stock amidst its strong balance sheet. He also cited the company’s strategic partnership and the Biden administration’s green energy boost for his bullish thesis.

Overall, the outlook for green energy stocks looks bullish. PLUG stock has rebounded strongly from its 2021 lows, but is still trading less than half of its 52-week highs. The company has put aside legacy accounting issues and now looks poised for strong secular growth.

PLUG is one of the best WallStreetBets stocks that should be on your radar in October. Wall Street analysts are also seeing a rise in the stock, and its median target price of $ 40 implies a rise of 26%. It received 18 purchases and 7 7 ratings held by analysts polled by CNN Business.

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  1. Paysafe (NYSE: PSFE)

Paysafe is also one of the popular WallStreetBets actions. The payment processor went public through a PSPC merger and is currently trading well below PSPC’s IPO price of $ 10. Meanwhile, PSFE is among the best fundamentally solid stocks in the Reddit group.

psfe is a good stock of wallstreetbets

PSFE is an attractively valued WallStreetBets action

While some WallStreetBets stocks are trading at inflated valuations, PSFE appears reasonably valued. It’s trading at an EV / EBITDA NTM (next 12 months) multiple of around 14x, which looks pretty cheap for a fintech company.

During the second quarter earnings call, Paysafe kept its 2021 revenue forecast of $ 1.53 billion to $ 1.55 billion for the full year of 2021, as it expects to post adjusted EBITDA of $ 480 million to $ 495 million during the year.

The long-term outlook for Paysafe shares also looks positive. The company occupies a leading position in the American iGaming market. As more states legalize sports betting, this would bode well for PSFE’s long-term predictions. The fintech industry has a positive long-term outlook and companies like Paysafe appear well positioned to take advantage of the opportunity.

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  1. Invesco QQQ Trust Series 1 (NYSE: QQQ)

QQQ, which tracks the Nasdaq-100 Index, is a popular ETF on WallStreetBets. The ETF gives you diversified exposure to large cap US technology companies. The Nasdaq is out of its 2021 highs. However, the outlook for US tech stocks looks bullish.

QQQ is a popular ETF on WallStreetBets

While WallStreetBets members generally discuss stocks, QQQ is among the few popular ETFs in the group. If you want to bet on something that is popular with WallStreetBets members but are worried about investing in individual stocks, QQQ would do the trick. QQQ is quite liquid and the expense ratio is also low. The ETF is a good, inexpensive way to invest in a basket of US tech stocks.

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  1. Apple (NYSE: AAPL)

Apple is also very popular on WallStreetBets. The stock has passed its 2021 highs amid concerns over supply chain issues. The global chip shortage has hit iPhone production and could take a toll on sales over the holiday season.

WallStreetBets loves Apple but some analysts are bearish

Meanwhile, while many WallStreetBets members are bullish on Apple stocks, some Wall Street analysts have turned bearish. Earlier this week, Barclays reiterated Apple stock as neutral ahead of the release of its upcoming results. “Given that the trends are well below normal seasonality based on the combination of AAPL estimate expectations and the construction outlook, we believe this points to a slightly weaker September quarter for revenue from businesses. AAPL products, ”Barclays said in its memo.

Needham analyst Laura Martin also lowered the Apple iPhone 13 shipping forecast based on channel checks. However, the brokerage has a buy rating and a target price of $ 170 for Apple stock.

Warren Buffett loves Apple

If you watch a WallStreetBets stock that even Warren Buffett loves, Apple would do. Berkshire Hathaway is Apple’s second largest shareholder and Buffett has praised Apple’s products and leadership on several occasions.

Apple is also a game on the 5G transition and electric vehicles. The company is expected to enter the electric vehicle industry. The company’s foray into electric cars would add long-term value for shareholders. Also, it could be one of the biggest challenges for Tesla, which currently dominates the US electric car market.

Apple is one of those WallStreetBets stocks that you can hold on to for decades. The stock could offer stable long-term returns given its strong brand and innovative products.

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About Mohit PRO INVESTOR

Mohit Oberoi is a freelance financial writer based in India. He completed his MBA with a specialization in finance and also holds a CFA charter. He has over 14 years of experience in the financial markets. He has written extensively on world markets over the past seven years and has written over 7,500 articles. It covers metals, electric vehicles, asset managers, technology stocks and other macroeconomic news. He also enjoys writing on personal finance and valuation related topics.

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