Top 3 Reddit Stocks to Consider Buying in 2023

When people think about stocks that gained attention on Reddit, they often think of GameStop and AMC Entertainment. These two companies were the most well-known examples of the “meme stock” trend on the social media platform in 2021. However, they were not the only speculative stocks that gained attention on Reddit. There are several other stocks that have trended on the forum in recent years.

Although penny stocks are certainly of interest to many members of the Reddit community, this group of investors is not solely focused on low-priced stocks. In fact, many of the trending Reddit stocks are companies that are widely held by retail and institutional investors. 

It can be beneficial to pay attention to the stocks that are popular with Reddit investors, as this can provide insight into the investment trends and strategies of a diverse group of investors. This presentation will highlight three stocks that may be worth considering as investment opportunities for 2023. These stocks have a consensus analysts rating of Hold or higher, indicating that they are seen as potentially sound investments.

1. Nvidia (NASDAQ:NVDA)

Nvidia is a semiconductor company that experienced strong growth in 2021 but has seen its stock price decline by 42% in 2022. This may be due to challenges such as restrictions on chip sales to China and decreased demand caused by the Federal Reserve’s efforts to control inflation through interest rate hikes.

Nvidia’s stock price hit a 52-week low in October but has since rebounded. One potential reason for the company’s recent slowdown in revenue may be the introduction of its next-generation chips. However, these chips are essential for industries such as data centers and artificial intelligence, which continue to see strong growth. Semiconductor chips are also important for many other high-growth sectors of the economy. If customers are planning to increase their purchasing of these types of chips, it may be worth considering investing in Nvidia.

Concerning NVIDIA

NVIDIA Corporation is a company that provides graphics, compute, and networking solutions in various countries around the world. The company’s Graphics segment includes products such as GeForce GPUs for gaming and personal computers, as well as software and infrastructure for gaming platforms. The segment also offers Quadro/NVIDIA RTX GPUs for enterprise workstation graphics and vGPU software for cloud-based visual and virtual computing. NVIDIA’s automotive platform is used for infotainment systems, and the company’s Omniverse software is designed for building 3D designs and virtual worlds.

2. Tesla (NASDAQ:TSLA)

Tesla is a company that has received a lot of attention in the media in 2022, particularly due to a stock split that occurred in August and the actions of its CEO, Elon Musk, who made headlines for purchasing Twitter and selling off Tesla shares to finance the purchase. 

There have been some concerns raised about whether or not Elon Musk, Tesla’s CEO, has too much on his plate. However, the company’s financial performance does not appear to reflect any negative effects from this. In fact, Tesla continues to see strong growth in revenue and earnings on a year-over-year basis, with both expected to grow at rates above 30% and 40% given a time horizon of five years.

Electric vehicles are not yet the most popular choice among consumers, but there is growing interest in this technology. If electric vehicles become more mainstream, it is likely that Tesla will be a major player in this market. 

Concerning Tesla

Tesla is a company that designs, develops, manufactures, leases, and sells electric vehicles, as well as energy generation and storage systems, in the United States, China, and other countries. The company’s business is divided into two segments: Automotive and Energy Generation and Storage. The Automotive segment includes electric vehicles and the sale of regulatory credits.

3. Nio (NYSE:NIO)

Nio is a Chinese company that is worth considering as a potential investment opportunity, especially for those who have not written off investing in Chinese stocks. The company, which is focused on the electric vehicle market, was once a penny stock and faced bankruptcy. However, it received financial support from the Chinese government and has since made a strong recovery.

Nio currently has six electric vehicle models on the market and plans to introduce five additional models in 2023. The company has also implemented a battery-as-a-service (BaaS) program, which addresses one of the key concerns of consumers by lowering the cost of its electric vehicles. This program has helped Nio take control of a substantial portion of the market in China. 

Despite the challenges posed by the COVID-19 pandemic, Nio has continued to produce and provide vehicles in China and has ventured into the Norwegian market. It is possible that the company may eventually have some presence in North America as well. The electric vehicle market as a whole is expected to see significant growth in the coming years, and Nio is well positioned to take advantage of this trend.

Concerning Nio

Nio Inc is a Chinese company that designs, manufactures, and sells electric vehicles. In addition to producing electric vehicles, the company is also involved in the manufacture of battery packs, e-powertrain systems, and a number of other components. NIO also provides technology development and is engaged in sale and after-sale management services.