WallStreetBets Stock Tips November Week 2 Roundup

Every week we bring to you some of the fundamentally strong and reasonably valued stocks that are popular on Reddit group WallStreetBets. Here are the five best WallStreetBets stocks that you can buy in the second week of November.

1. Sundial Growers (NYSE: SNDL)

Sundial Growers is a long-time favorite WallStreetBets stock. The company has fully capitalized on the Reddit frenzy and went on a stock selling spree. The company released its third-quarter earnings yesterday and reported cannabis revenues of CAD (Canadian dollars)14.4 million in the quarter, which was 12% higher than the corresponding quarter in 2020. It posted an adjusted EBITDA of CAD 10.5 million.

SNDL is a top cannabis stock on WallStreetBets

Meanwhile, SNDL has now announced a CAD 100 million share buyback. That might sound strange as the company is “returning cash” to shareholders in less than a year of the share issuance. However, SNDL is a meme stock for a reason, and the share repurchase exemplifies that.

Meanwhile, given SNDL’s strong cash position and the continued recovery in its core cannabis business, it looks among the best WallStreetBets stocks to buy in November 2021.

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2. Paysafe (NYSE: PSFE)

Paysafe stock fell over 41% yesterday and hit a new low. The company went public in March through a reverse merger with one of Bill Foley’s SPAC. Meanwhile, the stock has had a rough ride as a publicly-traded company. While there was a brief surge following the interest from traders on Reddit group WallStreetBets, PSFE stock has failed to hold on to higher price levels.

WallStreetBets is interested in PSFE stock after the crash

Paysafe’s third-quarter earnings, where it missed the earnings estimates and also lowered the full-year guidance, further added to the gloom. WallStreetBets members are however bullish on the stock given its attractive valuations.

The long-term forecast for Paysafe stock looks positive. The company has a market-leading position in the US iGaming market. As more states legalize sports betting it would bode well for PSFE’s long-term forecast. The fintech industry has a positive outlook over the long term and companies like Paysafe look well placed to capitalize on the opportunity.

While fintech stocks are notorious for exorbitant valuations, PSFE looks like an attractively priced stock. If you are looking at a fintech stock that WallStreetBets members are also bullish on, PSFE should be on your radar.

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3. PayPal (NYSE: PYPL)

PayPal stock plunged earlier this week after it released its quarterly earnings. While the company’s quarterly performance was better than expected, its guidance was below the mark. The company expects to post revenues of about $30 billion in the fiscal year 2022 which was below what analysts were expecting.

Commenting on the earnings, CEO Dan Schulman said “We are seeing the impact of global supply chain shortages in our merchant base, consumer confidence is weakened with the absence of stimulus payments, and with the economy reopening, more people may be likely to do their holiday shopping in-store.”

WallStreetBets like PayPal stock after the crash

Meanwhile, WallStreetBets members like PayPal stock after the crash. Several analysts meanwhile lowered their target price on PYPL after the earnings. “PYPL was one of the pandemic’s biggest beneficiaries, but the uneven global macro recovery amid supply chain issues as well as tough comps are challenging growth prospects,” said D.A. Davidson in its note while lowering the target price from $325 to $275.

That said, if you are looking at a fintech stock for the long-term, PayPal looks like a good bet. While interest from WallStreetBets traders could be a short-term price driver, the company is a long-term play in the fintech industry.

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4. Ford (NYSE: F)

Ford stock has been quite popular on WallStreetBets. The stock has risen 120% in 2021 and is among the best performing S&P 500 stocks. The company has seen a rerating over the last year as markets have started to appreciate its electric vehicle plans. It has also reinstated the dividend which was suspended in 2020 amid the COVID-19 pandemic.

WallStreetBets like Ford for its valuation

Newly-listed Rivian, which is yet to begin meaningful commercial sales, commands a higher market cap than Ford. The valuation disconnect between Ford and pure-play EV companies is making some WallStreetBets members bullish on F stock.

The company is coming up with the all-electric version of its best-selling F-150 pickup model which would be a key catalyst for the stock. The model has been attractively priced and would give good competition to other electric pickup trucks including those from Rivian and Tesla.

If you are looking to buy a reasonably valued automotive stock, which even WallStreetBets admires, Ford would fit the bill.

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5. ContextLogic (NYSE: WISH)

WISH went public last year pricing the shares at $24. However, the stock currently trades at only about a quarter of the IPO price. It has had a poor ride as a publicly-traded company. The company’s dismal financial performance has continued and its sales fell in the third quarter. The company’s sales had fallen in the second quarter also. To make things worse, it has forecast that the sales in the current quarter will also be lower than the corresponding quarter last year. While e-commerce companies are battling a growth slowdown, a fall in topline is not something that markets were expecting.

WallStreetBets is discussing the resignation of WISH CEO

WallStreetBets is bullish on WISH after the resignation of CEO Piotr Szulczewski. This comes a few months month after the CFO Rajat Bahri had resigned. Meanwhile, markets and WallStreetBets don’t seem too perturbed with the CEO’s exit even as the stock had crashed after the CFO exited.

WISH has been lowering the advertising spend to focus on the bottomline rather than chasing growth at all costs. Commenting on the earnings, it said “During the quarter, we continued to implement our aggressive plan to make key strategic, operational and structural improvements, which we believe will enable Wish to achieve its full potential.” The company added, “The foundation of that plan is to improve and maintain trust with our buyers, and to provide a differentiated and engaging buying experience. In doing so, we expect to drive long-term growth and sustainable unit economics for our eCommerce platform.”

If you are looking at an e-commerce stock that is a turnaround candidate, WISH should definitely be on your watchlist.

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