Top 10 Trending Stocks for July

What went down this month

Author

Swaggy Stocks
July 31, 2022

Swaggy’s Top Stonks. We compile and analyze data from multiple sources bringing you the top trending tickers from around the internet. If you haven’t subscribed already, please do so below.

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Today's edition we'll be going through the top 10 list of WallStreetBets tickers and a look at what's happening in the markets.

Today's Letter

  • Market Update

  • Top Meme Stocks for July

  • Earnings SZN

  • Trending Cryptos

Market Update

Markets finished July in what was the strongest month for most major indices since 2020. However, while small caps did participate in the rally over the last several trading days, many growth names still struggled to find their footing. ARKK is a great example, which is still sitting at -55% YTD return and -65% from peak in 2021. Although the chart does not look great, it's been somewhat resilient through May and early June when markets were still getting spanked... is a bottom beginning to form?

A notable trade in the ARKK ETF that made headlines this week brought the fund's holdings of COIN down significantly. Over 1 million shares were sold on the day the SEC announced a probe into Coinbase and the way they transact many tokens. Typically when any ARK ETF has bought or sold shares in such large amounts the trend has continued until they've maxed out for the fund's weighting or sold out of the position. It will be interesting to see what happens next as the fund's average purchase price per share was roughly ~$250.

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Top Meme Stocks for July

The top 10 list is ready... here's what "meme-ers" were talking about for the month of July.

  1. Tesla (TSLA) ~18,750 mentions: As usual, Tesla at the top of the list of mentions as hype from Elon's tweets drive retail sentiment.

  2. Apple (AAPL) ~10,500 mentions: More mentions than typical for Apple and this is due to their stellar earnings that catapulted the market higher on Friday. Apple showed us that the economy is currently showing signs of strength during this "recession".

  3. CPI ~9,250 mentions: An unusal ticker and not relating to the company behind it. CPI mentions were high this week due to the FOMC last week and all this chatter about inflation and rising rates. It goes to show that monitoring retail social flows doesn't always lead to meme stocks, but important economic events as well.

  4. GameStop (GME) ~9,250 mentions: GameStop performance has been beating the overall market over the last 6 months. The stock is up 25% on a 6-month timeframe. GameStop also released their NFT marketplace earlier this month.

  5. OIL ~5,500 mentions: Another mention that doesn't match with the ETN behind the ticker. OIL simply refers to oil (and usually energy prices), and mentions over the last several months have been soaring (as expected) with the volatile price.

  6. Netflix (NFLX) ~5,500 mentions: Netflix made some waves a couple weeks ago after reporting a loss of only 1 million subscribers vs 2 million estimated. This, of course, was bullish for algorithms that pushed shares roughly 30% higher that week.

  7. Amazon (AMZN) ~4,900 mentions: Amazon, along with Apple, were the cream of the crop in this earnings season (so far). Shares rose 10% on Friday on a better than expected forecast into future profits.

  8. Snap Inc (SNAP) ~4,500 mentions: SNAP's earnings made HUGE waves around the finance world after a 40% drop on a poor earnings announcement. Ad revenue was down, which also dragged some of big tech along with it (META, Google).

  9. GDP ~4,400 mentions: Another month goes by where GDP is the main focus. This time around poor GDP numbers meant good news for the market. Why, you may ask? Nobody knows.

  10. QQQ ~3,500 mentions: QQQ PowerShares which tracks the Nasdaq. It was a great month for tech, which pushed the QQQ up 15% for the month of July. This is a monstrous move for an ETF.

Earnings SZN

Last week's mediocre-at-best Facebook (META), Google, and Microsoft earnings were all out-shined by Apple and Amazon who led the market to a strong finish. Here's what's reporting this week. As always remember that:

AMC = Reporting "After Market Close"

BMO = Reporting "Before Market Open

Monday

  • Pinterest (PINS) - AMC

Tuesday

  • Uber (UBER) - BMO

  • Advanced Micro Devices (AMD) - AMC

  • PayPal (PYPL) - AMC

  • SoFi (SOFI) - AMC

  • AirBnB (ABNB) - AMC

Wednesday

  • Robinhood (HOOD) - AMC

  • Mercadolibre (MELI) - AMC

Thursday

  • Alibaba (BABA) - BMO

  • Datadog (DDOG) - BMO

  • AMC (AMC) - AMC

  • Block (formerly Square - SQ) - AMC

  • FuboTV (FUBO) - AMC

  • Twilio (TWLO) - AMC

  • Cloudfare (NET) - AMC

Friday

  • DraftKings (DKNG) - BMO

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Trending Cryptos

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