Best WallStreetBets Stocks to Buy January Week 2 Roundup

In 2021, retail traders on Reddit group WallStreetBets emerged as a force to reckon with. The group started with a bang and took several stocks to astronomical highs, “to the moon” as they say.

However, as the year drew to a close, WallStreetBets remained a pale shadow of its past. 2022 has started with a bang and GameStop, which was among the first meme stocks, is surging. What’re the top five WallStreetBets stocks that you can buy in January 2022?

1. Tesla (NYSE: TSLA)

Tesla has been a long-time favorite stock of WallStreetBets members. The stock soared on the first trading day of the year after its fourth-quarter deliveries smashed records. However, it has since come down amid the general sell-off in tech names. Tesla still has a market cap of $1 trillion. If you are looking to buy an EV (electric vehicle) stock that WallStreetBets loves, Tesla should be on your radar.

Tesla is among the top five names on WallStreetBets

Tesla is currently among the top five names on WallStreetBets. The stock gained 740% in 2020 and another 50% last year outperforming the markets by a wide margin. Deutsche Bank analyst Emmanuel Rosner issued a bullish note on the stock after the Q4 2021 delivery report. He said in his note that “While we maintain for now our 2022 deliveries estimate of 1.47mn units, 4Q production suggests upside potential to our forecast. Our 2022 deliveries represent 58% YoY growth, which should be supported by the new Berlin and Austin factories, as well as capacity expansion in existing factories.”

The recent correction in Tesla stock looks like a good opportunity to buy this WallStreetBets stock at attractive prices.

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2. Robinhood (NYSE: HOOD)

Robinhood stock has a special connection with WallStreetBets. A lot of traders on the group trade on the company’s platform. However, some got angry with the company after it blocked trading in meme stocks last year. After the company’s listing, HOOD soon became a meme stock and more than doubled from its IPO price of $38. Currently, the stock trades at less than half of the IPO price. There have been short-term growth headwinds for HOOD stock, but it looks like an attractive fintech stock to buy now after the massive fall.

HOOD’s expected growth is attracting WallStreetBets

Robinhood is looking to add several new products to increase its wallet share from existing investors which will help it increase the topline growth. It is also working on offering IRA and has a waitlist of 1 million for its crypto wallet. The company might eventually add more cryptos as well as services like staking and lending on the platform. However, the company said that it would be careful and wait for more regulatory clarity.

Cathie Wood of ARK Invest has loaded on HOOD stock after the crash. While her names have tumbled, she continues to have high conviction about them. All said, at current price levels, HOOD looks like a no-brainer WallStreetBets stock that you can add to your portfolio.

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3. SoFi (NYSE: SOFI)

SoFi has been another long-time favorite WallStreetBets stock. The fintech company has come off its highs and looks quite attractive. While the expected increase in interest rates is negative for all growth names including SoFi, there are several triggers that should take the stock higher.

Both WallStreetBets and Wall Street love SoFi stock

Both WallStreetBets and Wall Street loves SoFi stock. Last month, Citi initiated coverage on the stock with a buy rating and a $20 target price. The brokerage is bullish on SoFi’s cross-sell opportunities. Also, the company’s student loan refinancing business should see better days once the moratorium is lifted. The expected bank charter would be another trigger that can take SoFi stock higher.

Fintech names have come under pressure amid the rise in bond yields. However, SoFi is one fintech stock that looks promising in the long term.

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4. Apple (NYSE: AAPL)

Apple hit a market cap of $3 trillion on the first trading day of 2022 itself. The company was also the first to reach the milestone of $1 trillion and $2 trillion market cap. The stock has since come under pressure. However, the crash looks like a good opportunity to own the company which is the biggest holding for Berkshire Hathaway also. WallStreetBets members are also bullish on the iPhone maker.

WallStreetBets likes Apple, so does Buffett

Buffett has admired Apple on more than one occasion. Some analysts have recently turned bearish on Apple stock citing the elevated valuation multiples and the expected slowdown in topline growth. However, there are several triggers that can take the stock higher in 2022. These include the expected launch of AR/VR headsets. Also, markets would closely follow the trajectory of the company’s services business. The company is also expected to announce another massive buyback this year.

Apple is also rumored to enter the electric vehicle industry. As the year progresses, we should get some more details about the project, which has so far been quite secretive. Overall, if you want to buy a WallStreetBets stock that is financially strong and is not the usual meme stock, Apple would fit the bill.

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5. Invesco QQQ Trust Series 1 (NYSE: QQQ)

QQQ, which tracks the Nasdaq-100 Index, is a popular ETF on WallStreetBets. The ETF gives you diversified exposure to large-cap US technology companies. The Nasdaq Index underperformed S&P 500 in 2021, something that you don’t see quite often.

QQQ is popular ETF on WallStreetBets

While WallStreetBets members usually discuss stocks, QQQ is among the rare ETFs that are popular in the group. If you want to bet on something that’s popular among WallStreetBets members but are wary of investing in individual stocks, QQQ would fit the bill. QQQ is quite liquid and the expense ratio is also low. The ETF is a good low-cost way to invest in a basket of US tech stocks.

ETFs can be a good investing strategy especially for investors who lack the time or analytical skills to pick individual stocks. Especially under the current market environment, where we have heightened volatility, ETFs could turn out to be a better bet.

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