Benzinga's Daily Brief On Trending Tickers For Feb. 24, 2022: Tesla, GameStop, Alibaba And More

Benzinga’s “Daily Brief On Trending Tickers” highlights top-searched tickers from around the web and uses the Benzinga Pro platform to highlight recent news items possibly impacting those stocks.

The data on the trending tickers is compiled from a list of most-discussed tickers on the popular Reddit forum WallStreetBets.

Tesla TSLA plans to start work on a new plant in Shanghai as soon as next month as part of a plan to more than double production capacity in China to meet growing demand for its cars in the country and export markets.

GameStop Corp. GME: Last week, U.S. authorities launched an investigation into alleged illegal trading tactics by short sellers. GameStop investors, mainly in the communities dedicated to the GME stock on Reddit, claim that GME's trading performance has been illegally manipulated by short sellers.

Alibaba Group Holding BABA reported quarterly earnings of $2.65 per share, which beat the analyst consensus estimate of $2.55 by 3.92%. This is a 21.6% decrease over earnings of $3.38 per share from the same period last year. 

Palantir Technologies Inc PLTR: Citigroup analyst Tyler Radke maintained Palantir with a Sell and lowered the price target from $13 to $10.

VanEck Russia ETF RSX: The RSX fund tracks the MVIS Russia index and provides investors with exposure to Russian equities. The RSX fund is down 34.82% in the last six months.

Ionis Pharmaceuticals IONS reported quarterly sales of $440 million, which beat the analyst consensus estimate of $259.15 million by 69.79%.

Teradyne, Inc TER: The semiconductor equipment maker’s shares are trading 3.19% lower in Thursday’s premarket session to $107.96. 

Forestar Group Inc FOR: Moody's Investors Service upgraded Forestar Group Inc.'s Corporate Family Rating (CFR) to Ba3 from B1, Probability of Default Rating (PDR) to Ba3-PD from B1-PD and senior unsecured rating to Ba3 from B1.

Nvidia NVDA: The ongoing global computer chip shortage shows no signs of relenting anytime soon, boosting demand for Nvidia's already popular chips. Nvidia's outstanding inventory purchases and long-term supply obligations were $9 billion, a $2.54 billion year-over-year increase, and up from $6.9 billion just one quarter ago.