As Markets Soar, Are These 3 Reddit Stocks Here to Stay?

The stock market has fallen sharply over the past few weeks, so it was inevitable that at some point, market participants would see major benchmarks whip back upward. Tuesday morning brought that relief for bullish investors, accompanied by a significant decline in interest rates that showed at least some inflation fears appeared to get put to rest. As of 11:15 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) climbed 285 points to 32,088. The S&P 500 (SNPINDEX: ^GSPC) jumped 72 points to 3,893, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) skyrocketed 435 points to 13,044.

Plenty of beaten-down market leaders were among big winners on Tuesday morning, as growth stock investors reasserted their supremacy at least for a short while. More surprising for some, though, was that stock picks inspired by the Reddit group WallStreetBets were back in full force. In particular, GameStop (NYSE: GME), AMC Entertainment Holdings (NYSE: AMC), and Sundial Growers (NASDAQ: SNDL) were all higher by 5% or more.

AMC Entertainment's stock was up more than 6%, challenging the $10-per-share mark once again. The movie theater operator is getting caught up in optimism about the potential reopening of the economy as coronavirus vaccine deployment continues, but some stock analysts are also trying to figure out whether the company can take advantage of its popularity among investors.

Source Fool.com