Rivian Automotive Inc. RIVN has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Wednesday ahead of Tesla Inc. TSLA, while Lucid Group Inc. LCID, Nvidia Corp. NVDA and Peloton Interactive Inc. PTON are also seeing high interest.
What Happened: Newly-listed electric vehicle maker Rivian is seeing the highest interest on the forum with 533 mentions as at press time, followed by electric vehicle startup Lucid Group with 455 mentions.
Exchange-traded fund SPDR S&P 500 ETF Trust SPY and Tesla are in the third and fourth positions, having attracted 406 and 292 mentions, respectively.
Apart from graphics chipmaker Nvidia and fitness products maker Peloton Interactive, the other stocks trending on the forum include biotechnology company Progenity Inc. PROG, video game holding company Activision Blizzard Inc. ATVI, electric vehicle startup Canoo Inc. GOEV and chipmaker Advanced Micro Devices Inc. AMD.
Why It Matters: Rivian, Lucid and Tesla are seeing high interest from retail investors amid the rising demand for electric vehicles.
Nvidia continues to remain among the most-discussed stocks on the forum ahead of the company’s third-quarter financial results on Wednesday.
Peloton announced a $1 billion stock offering on Tuesday. The company said it has priced a public offering of 23.91 million shares of its Class A common stock at $46 per share and expects net proceeds of about $1.07 billion.
Shares of Progenity, seen as a potential short squeeze candidate by investors on the forum, surged more than 39% in Tuesday’s regular trading session.
Price Action: Rivian shares closed almost 15.2% higher in Tuesday’s regular trading session at $172.01 and further rose 0.5% in the after-hours session to $172.90.
Lucid shares closed 23.7% higher in the regular trading session at $55.52 and further rose 4.8% in the after-hours session to $58.20.
SPDR S&P 500 ETF Trust shares closed 0.4% higher in the regular trading session at $469.28 and further rose less than 0.1% in the after-hours session to $469.36.
Read Next: Rivian, Shiba Inu Are More Alike Than Different, Says Bedrock Capital Co-Founder
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