What happened After soaring earlier in the year, several stocks that have become favorites among investors on Reddit and other social media sites have pulled back sharply in recent days. Here's how some of the most popular of these stocks performed today: Zomedica (NYSEMKT: ZOM), down 6% Naked Brand Group (NASDAQ: NAKD), down 8% Ocugen (NASDAQ: OCGN), down 20% So what Millions of investors have turned to investment forums such as the WallStreetBets Reddit group in search of ways to make money in the current market environment. After some traders made a fortune by buying shares of GameStop early into its epic Reddit-fueled short squeeze, investors began searching for other volatile stocks to buy. Many of these traders turned to small-cap stocks like Naked Brand, Zomedica, and Ocugen in hopes of mimicking GameStop's explosive returns. Image source: Getty Images. For investors who bought these stocks early in the year, this has been a winning strategy. Ocugen, Zomedica, and Naked Brand are up 587%, 290%, and 207%, respectively, so far in 2021. OCGN data by YCharts However, some investors apparently decided to take their winnings off the table today, and all three stocks are now down sharply from their highs of the year. Now what CNBC reported today that many retail investors appear to be shifting out of individual stocks and into exchange-traded funds (ETFs). This dynamic could be partly responsible for the recent downturn in the prices of many previously popular Reddit stocks. Another reason may be the massive surge in trading in cryptocurrencies such as Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE). Ethereum recently hit new all-time highs above $3,000, and Dogecoin's price surged 30% today alone. Traders may be leaving the stock market and turning to the crypto arena in hopes of achieving even quicker gains. Regardless of what they're buying, one thing is clear: Many investors chose to sell their formerly high-flying Reddit stocks today. 10 stocks we like better than DogecoinWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dogecoin wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Joe Tenebruso has no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool has no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool has a disclosure policy.Source