Gav Blaxberg, chief executive officer at Wolf Financial, said he favored stocks that are popular on social media and discussed the Gamestop (GME) surge in the Season 3, Episode 13 episode from June 2021.
“You look for companies that either have very recognizable management or leaders…[or] growth stocks that have blown out of the water their fundamentals,” he said.
Blaxberg identified Labor Smart, Inc. (LTNC), Future Holdings Limited (FUTU), and Celsius Holdings (CELH) as some examples.
Blaxberg said social media is critical to stock performance, and that GameStop’s surge was not as unprecedented as people thought, given Kodak’s success in 2020.
LTNC and CELH gained 250% and 48%, respectively, in 2021, while FUTU was down 5%.
Blaxberg didn’t hold his position on LTNC, calling it “risky.”
“I did get in on that, I rode it up about 200%, and then got out,” he said. “Celsius is still one of my larger positions.”
Blaxberg said he had to “bite the bullet” on FUTU, because “there was just a massive distrust of the companies that are based out of China.”
Blaxberg said he noticed other companies doing well on social media.
“Some of the classics, it seems, like food companies, really have the [social media] game down now,” he said. “You look at McDonald’s, you look at Wendy’s and other ones like that now.”