Wedbush Best Ideas List — Wedbush has updated its Best Ideas List following an October in which the model portfolio returned -11.6%, a sharp reversal against major benchmarks. The S&P 500 slipped 0.9% over the same period, the Nasdaq fell 5.3%, and the Russell 2000 gained 0.5%, according to the firm’s review. The changes remove two names under an automatic price-discipline rule and leave a roster of twelve stocks, all rated Outperform.
Why Reddit and Arcus Biosciences Were Dropped
Reddit and Arcus Biosciences were taken off the list for investment price discipline. Wedbush applies a standing rule that triggers a sale when a stock declines 25% relative to the average move of the S&P 500 and Russell 2000. Both removals stem from that mechanical threshold rather than a change in the firm’s rating, as every remaining name on the list carries an Outperform rating.
The Twelve Names Still on the List
Prices below reflect the October 30 close, with Wedbush’s targets and the implied upside calculated from those levels.
- Alphabet Inc. (GOOGL) — $278.99, target $387, roughly 39% upside.
- IMAX Corporation (IMAX) — $49.80, target $60, about 21% upside.
- Take-Two Interactive Software Inc. (TTWO) — $192.10, target $280, around 46% upside.
- Silicon Motion Technology Corporation (SIMO) — $187.90, target $400, approximately 113% upside.
- Western Digital Corporation (WDC) — $338.59, target $650, about 92% upside.
- Palo Alto Networks Inc. (PANW) — $351.72, target $400, roughly 14% upside.
- Rubrik Inc. (RBRK) — $114.67, target $150, about 31% upside.
- Willdan Group Inc. (WLDN) — $72.02, target $130, around 81% upside.
- Scholar Rock Holding Corporation (SRRK) — $42.91, target $70, approximately 63% upside.
- Tyra Biosciences Inc. (TYRA) — $21.33, target $53, about 149% upside.
- Climb Bio, Inc. (CLYM) — $9.74, target $25, roughly 157% upside.
- Zenas BioPharma, Inc. (ZBIO) — $27.62, target $45, about 63% upside.
October’s Gap Versus the Benchmarks
The -11.6% monthly return stands out against the modest declines and single gain across the tracked indices. The S&P 500’s -0.9% and the Nasdaq’s -5.3% both outperformed the Wedbush list, while the Russell 2000’s +0.5% added a positive contrast. The update arrives as the firm recalibrates rather than abandons its highest-conviction ideas, keeping every retained stock at Outperform.
What the Targets Suggest
The implied upside across the twelve names ranges widely, from Palo Alto Networks’ roughly 14% to Climb Bio’s approximately 157%. Silicon Motion, Western Digital, Willdan Group, and Tyra Biosciences also carry triple-digit or near-triple-digit implied gains based on the October 30 closing prices. Those figures represent Wedbush’s targets at that snapshot and are not forecasts of actual returns.
The list now reflects a smaller, price-disciplined set of positions after a month that tested the portfolio against all three major benchmarks.