Friday's Top 5 Trending Stocks: What's The Scoop On GameStop, SoFi, Tesla?

GameStop Corp. GME, SoFi Technologies, Inc. SOFI, Tesla, Inc. TSLA, Cassava Sciences, Inc. SAVA and Anavex Life Sciences Corp. AVXL are the top five trending tickers on Stocktwits Friday. Here’s a look at what grabbed retail investors’ attention.

GME GM-Meme: GameStop tops the list this week. The stock moved on heavy volume and zero fundamentals Friday, as the original meme-stock tends to do. Keith Gill, a.k.a. Roaring Kitty, dumped his Chewy, Inc. CHWY shares at the end of October and GameStop has climbed steadily since. 

SOFI Surges: SoFi shares have climbed 17% this week as investors hope for deregulation under a second Trump presidency. The stock pumped on heavy volume and ended the day more than 9% higher. 

Read Next: What Does Trump’s Victory Mean For EV Giant Tesla And The Big 3 Automakers?

TSLA For President: Tesla shares blasted higher after Donald Trump won the presidential election. Tesla CEO Elon Musk joined Trump several times on the campaign trail and may even be appointed to a position in the administration. 

Investors may also consider Trump's EV and tariff policy beneficial to Tesla, as both could potentially reduce competition for the U.S.-based EV giant. The stock has been up 30% since Tuesday, and its market cap has now reached more than $1 trillion. 

SAVA: Cassava Sciences is a frequent flier on the Stocktwits trending list. HC Wainwright & Co. analyst Vernon Bernardino reiterated Cassava Sciences as a Buy and maintained an ambitious price target of $116 on Friday. The stock is currently trading at just under $27. 

AVXL: Anavex Life Sciences rounds out the list as another heavily-shorted biotech stock that moved on heavy volume, despite a lack of news. According to data from Benzinga Pro, 21.78% of shares are being sold short, and the stock saw more than triple its average trading volume on Friday. 

GME, SOFI, TSLA, SAVA, AVXL Price Action: According to data from Benzinga Pro, GameStop shares closed up 6.1% at $24.88, SoFi shares closed up 9.33% at $13.01, Tesla shares closed up 8.19% at $321.22, Cassava Sciences shares closed up 6.55% at $27.00 and Anavex Life Sciences shares ended the day up 21% at $9.24 on Friday. 

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