Why This Tech Giant Is Seeing The Highest Interest On WallStreetBets Today

Amazon.com Inc. AMZN has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Friday.

What Happened: Amazon is seeing the highest interest on the forum with 1,778 mentions as at press time, data from Quiver Quantitative showed.

Meta Platforms Inc. FB and Snapchat parent Snap Inc. SNAP are in the second and third positions, having attracted 1,607 and 840 mentions, respectively.

See Also: How To Buy Amazon (AMZN) Stock

Why It Matters: Amazon reported a profit for the fourth quarter that almost doubled from the year-ago period. Earnings beat analysts’ expectations, while net sales came in slightly below the consensus estimate.

The tech giant also said it would raise the cost of its annual Prime membership to $139 from $119, citing the expansion of benefits to members and a rise in wages as well as transportation costs. This marks the first price increase for Amazon Prime since 2018.

Price Action: Amazon shares closed 7.8% lower in Thursday’s regular trading session at $2,776.91, but rose almost 14.3% in the after-hours session to $3,173.00.

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