Investors looking to understand the overall picture aroundRedditstocks should considerApeWisdom.The website tracks trends surrounding popular stocks that are gaining or already have lots of traction on the aggregation and discussion social media platform.So, it’s a great first stop when considering which Reddit stocks to buy on the dip.
It really depends on the risk tolerance of the individual who uses Reddit for investment advice, but these stocks can be a mixed bag. Speculation is rampant on the site. That means risk-tolerant investors can easily find riskier picks on the site.
But at the same time, there is plenty of more moderate advice to be found as well. That’s mostly what is included in this list, because predicting the nextAMTD Digital(NYSE:HKD) is exceedingly difficult. That said, here are seven Reddit stocks to buy on the dip.
Reddit Stock to Buy on the Dip:Occidental Petroleum (OXY)
Occidental Petroleum(NYSE:OXY) stock saw an uptick in interest through Q2 as Warren Buffett’s firm bought heavily in June and July. That had many investors interested in the oil extraction firm.
Buffett was proven correct as Occidental Petroleumtopped estimatesin the quarter on strong commodity prices. The reason to like OXY stock moving forward is the company maneuvered deftly this quarter. It used those higher-than-anticipated profits to pay down a whopping 19% of outstanding debts.
That’s a textbook Buffett play. Additionally, the company repurchased $1.1 billion of its shares in the quarter, proving it rewards shareholders who believe in it. In short, energy stocks will remain volatile, but OXY stock is operating a fundamentally smart business with long-term value in mind.
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