7 Best Reddit Stocks to Buy Now

Before designating the best Reddit stocks, it is important to remember that “best” can be subjective in this particular instance.

With over 13.3 million members, Reddit’s r/wallstreetbets community is certainly a force to be reckoned with in the equities market. It was instrumental in orchestrating a short squeeze to lift multiple beaten-down stocks to new heights last year.

It’s the platform behind the popular meme stock movement, arguably one of the biggest stories emerging from the stock market in recent years. Hence, the best Reddit stocks cannot be ignored by investors looking to grow their portfolios.

The consensus among investors is that usually low quality stocks are trending on the platform. However, as you read through the article you’d pleasantly surprised to some stock market stalwarts making the rounds on the platform.

So whether you’re an avid investor or simply looking to dip your toe into stock trading, Reddit may be the perfect place to start.

Nio (NIO)

Nio (NYSE:NIO) has been a juggernaut in the Chinese electric vehicle space. It recently rolled out its 300,000^th vehicle, a remarkable feat given it took just under five years to reach the milestone.

It took three years for the firm to deliver the first 100,000 cars but only 12 months to double their production. At this pace, it could potentially hit a million deliveries within the next couple of years.

NIO is well-positioned to reap the rewards, with its sound balance sheet and tremendous productive potential. Furthermore, despite the headwinds this year, it still boasts an incredible financial standing, with 44.8 billion Yuan in liquid assets.

China’s 300 billion Yuan stimulus package points to a significant recovery in economic activity, making this one of the best Reddit stocks to take a chane on in the EV sector. NIO stock trades at a hefty discount to its peers and the highs achieved last year.

Disney (DIS)

With a robust track record of success, iconic characters and powerful branding, it’s not surprising that Disney (NYSE:DIS) has enjoyed a consistent presence amongst the most attractive stocks in the market.

However, this year has been incredibly tough for the media giant amidst the challenging macroeconomic conditions. Moreover, the low ticket sales of the highly anticipated Avatar sequel have added more fuel to the fire. Despite this short-term dip due to these challenges, there is no apparent risk to the company’s long-term positioning.

Furthermore, the surge in Disney+ subscribers over the past two years, from 54.5 million in May 2020 to an impressive 164 million today, is extraordinary and serves as a major milestone for the firm, making it one of the best Reddit stocks to buy in the streaming space.

On top of this, Disney’s Parks and Cruise lines segments are back with a bang and should contribute immensely to the firm’s top-line growth in the upcoming quarters. With all these positives, Disney points to a spectacular long-term outlook for the media giant.

TravelCenters of America (TA)

TravelCenters of America (NASDAQ:TA) is one of the premier names in travel convenience and services.

With over 250 locations across North America, TravelCenters of America offers travelers and truck drivers a wide variety of services to make their journey more enjoyable and hassle-free. Also, the firm has been investing in improving its IT systems to improve margins and efficiency.

The results of the first three quarters of 2022 were truly remarkable, with sales rising to an impressive $8.19 billion. It represents a massive 54.4% bump over the same time period last year. These solid results were aided by various factors and initiatives, such as acquisitions, franchising, and even new construction.

Looking ahead, it appears management intends to continue its momentum ahead.  Moreover, TA stock trades at just 0.06 times forward sales, making it one of the best Reddit stocks to buy at current prices.

Gartner (IT)

Gartner (NYSE:IT) is a market leader in the provision of research and insights for the technology sector. Its broad portfolio covers cloud computing, enterprise applications better, and other emerging trends.

With businesses of all sizes turning to digital transformation, Gartner stands poised to capitalize on providing profitable and innovative services. Its subscription-based business model has successfully bolstered its income and user base quarter after quarter. The firm forecasts a massive addressable market approaching a staggering $200 billion worldwide.

It continues to impress with its financial results, where its third-quarter sales exceeded expectations by over $30 million, totaling an incredible $1.33 billion.

The non-GAAP EPS for this quarter came in at 54 cents higher than expected at a solid $2.41. Seeing such a fantastic performance in a difficult market atmosphere is a testament to Gartner’s strength and flexibility.

Lithium Americas (LAC)

Investors have been buzzing about Lithium Americas’ (NYSE:LAC) Thacker Pass Project in Nevada. It’s a tremendous resource offering 179 megatonnes of lithium and 3.1 megatonnes in lithium carbonate equivalent.

The company boasts a 100% interest in this project, estimated to run for nearly half a century. It’s no surprise that LAC stock has been making the rounds on Reddit.

The firm’s Argentina operations are likely to come online soon, and expected production of up to 40,000 tonnes of LCE. Moreover, the Thacker Pass Project is set to start in 2023, pending the necessary permitting.

Collectively, this evidence suggests that Thacker Pass could be a key driver for LAC in capitalizing on the ever-growing demand for lithium.

Alibaba (BABA)

Alibaba (NYSE:BABA) has had a forgettable year, with its core eCommerce business stumbling due to slowing cross-border volume and the resurgence of the coronavirus in China.

Nevertheless, the  Chinese ecommerce giant saw massive annual transactions amounting to $1.3 trillion in gross merchandise volume (GMV). Despite the market challenges, Alibaba continues to prove its resilience and unmatched customer value proposition.

Meanwhile, its cloud business continues to fire each quarter. It currently hosts 37% of China-based websites and mitigates 800 million attacks daily. With a more conducive environment ahead, expect BABA’s cloud business to grow by double-digit margins again.

The firm recently announced an additional $15 billion worth of shares as part of its buy-back program. Also, it has already repurchased $18 billion from the ongoing $25 billion program set to end in 2025.

DocuSign (DOCU)

DocuSign (NASDAQ:DOCU) is uniquely positioned to continue driving value for enterprise clients with its suite of e-signature solutions.

As the ‘digital first’ movement continues to gain momentum, I believe more and more companies will require these solutions to streamline their internal processes and reduce costs. By utilizing their digital signature process flow, DocuSign helps companies provide customers with a smoother, more efficient experience that reduces time and hassle.

The economic downturn will create difficult times for many sectors of the economy, with real estate particularly hit hard. However, DocuSign can take advantage of this setback by redirecting its attention to other markets.

Furthermore, according to a report from Straits Research, it reflects on its incredible growth in the past years, with an addressable market estimated at over $42 billion by 2030. This shows that there’s still plenty of room for DocuSign to grow and expand in the years ahead.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines