Video game retailer GameStop Corp. GME has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Thursday.
What Happened: GameStop is seeing the highest interest on the forum with 585 mentions as at press time, followed by exchange-traded fund SPDR S&P 500 ETF Trust SPY with 436 mentions, data from Quiver Quantitative showed.
Tech giant Apple Inc. AAPL and electric vehicle maker Tesla Inc. TSLA are in the third and fourth positions, having attracted 318 and 270 mentions, respectively.
See Also: How To Buy GameStop (GME) Stock
Why It Matters: GameStop reported better-than-expected revenue for the third quarter on Wednesday, noting that new and expanded partnerships with brands including Samsung, LG, Razer Inc. RAZFF and Vizio Holding Corp. VZIO helped quarterly growth. The company’s net loss for the quarter widened from the year-ago period.
GameStop also said in a regulatory filing that it was issued a subpoena by the U.S. Securities and Exchange Commission in August for documents related to an investigation into its share trading activity.
GameStop and other heavily shorted stocks like AMC Entertainment Holdings Inc. AMC stole the limelight earlier this year after a flurry of buying by amateur retail investors on Reddit. The buying pushed up the price of these stocks amid a battle between retail traders and hedge funds.
GameStop continues to see interest from retail investors amid expectations that its adoption of a digital business model will be successful.
Price Action: GameStop shares closed 2.3% lower in Wednesday’s regular trading session at $176.65 and further lost 3.2% in the after-hours session to $168.10.
Read Next: 5 Most Upvoted Reddit Posts Of 2021: Did GameStop Make The Cut?
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