Some investors today are mystified by the way the market moves. It is no longer a strategy of checking traditional indicators and making traditional moves for success. In today’s interconnected world of investors there are other and newer methods to identify top performing stocks and stocks that will perform well on any given day. The market has changed, and to stay ahead of the curve it is necessary to throw out some of the old and adopt some of the new.
Social sentiment plays an important role in determining market changes. Especially during the internet and instant investing age. Looking at top trending stocks for any given day can give you a market edge. At the very least, let you know which stocks to add to your watchlist to monitor trends.
Several websites track online sentiment to determine trending stocks. Through an analysis of frequency and comment data it is possible to gauge trader sentiment. It is in no way scientific, but it does give an idea as to how the retail investment crowd feels about a particular stock.
If there is more positive commentary, retail investors are bullish on the stock.
If there is more negative commentary, retail investors are bearish on the stock.
This list shows the top 10 trending stocks that people are currently talking about the most online. Also, keep in mind that trending stocks and investor sentiment can rapidly change. This list was compiled at 10:00pm ET on March 8th and could be a leading/lagging indicator of stocks to watch on March 9th.
Adding these to a watchlist is a way to monitor how much online sentiment aligns with actual market performance.
Top 10 Trending Stocks (March 8th @10pm ET)
|SPY||SPDR S&P 500||🔴 Bearish|
- Investors are currently bullish on 6, and Bearish on 3 trending stocks.
- Meme stocks GME and AMC have impressive days on the market and bullish sentiment takes off. GME was up 41% and AMC was up over 15% in today’s trading session.
- Investors remain bullish on PLTR’s outlook, but shares traded almost 6% lower today.
- Like several other tech stocks AMD also took a hit today and was trading almost 6% down.
- RKT outperformed the market today and investors are once again bullish on the stock.
- DASH was down almost 12% today, but is entering into oversold territory. Investors are still bearish, but expect some short term gains.
- DIS hits a new all time high today, and investors believe its upward momentum will continue.
- DKNG will hold it’s investor day event tomorrow and online sentiment is bullish.
Which Stocks are Gaining Momentum?
|GE||General Electric||🟢 Bullish|
|ASO||Academy Sports||🟢 Bullish|
|EYES||Second Sight||🟢 Bullish|
- Investors are bullish on shares of GE after being upgraded and approaching finalization on its deal with AerCap.
- ASO is gaining a lot of momentum in social sentiment, however it is currently trading higher than its price target.
- EYES has been trending since Friday, shares have skyrocketed after FDA approval of retinal prosthesis system
- Cathie Wood, of ARK fame, thinks NVTA is probably one of the most important companies in the genomic revolution. Definitely one to keep on your watchlist.
- Investors believe that SENS will have a transformational year and be a valid competitor to DXCM in the future of diabetes medical devices.
This is not investment advice. There is no magical formula to determine if a stock is going up or down. There are indicators and other tools that investors can use at their own disposal to make their own decision on an investment. The best advice is to do your own research on a particular stock and make the judgement for yourself if you would like to invest. This website takes no responsibility for any potential gains or loses.