Benzinga's Daily Brief On Trending Tickers For April 6, 2022: Tilray, System1, Tesla 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 Inc TSLA is set to open Gigafactory Texas Thursday; it will be the fifth Tesla factory to open, and Tesla expects to deliver up to 500,000 vehicles annually. The grand opening "cyber rodeo" event is expected to attract up to 15,000 people.

GameStop Corp GME The video game retailer is expected to release earnings on June 15. In the last year, the company has posted an average loss of $5.23 per share.

Twitter Inc TWTR a tweet from Benzinga shows that Elon Musk initially began purchasing Twitter shares on Jan. 31. Musk purchased shares almost daily, increasing the buys slowly to acquire his 9.2% stake by April 1.

Tilray Brands Inc TLRY said third-quarter revenue grew 23% year-over-year to $152 million. Cannabis revenue grew 32%, while beverage alcohol revenue grew 64%. Cannabis revenue increased 4,000% year-over-year. The company reported a gross profit of $40 million, which was up 31% year-over-year.

System1 Inc SST On Monday, System1 said fourth-quarter revenue grew 48% year-over-year to $239 million. The company reported a net income of $31 million, up from $7 million year-over-year. Adjusted EBITDA increased 65% year-over-year to $37 million. The company expects full-year 2022 revenue of $1 billion and adjusted EBITDA of $174 million.

Advanced Micro Devices, Inc AMD The chip-making giant recently completed a $1.9-billion acquisition of software firm Pensando Systems in an effort to expand its data center capacities.

Digital World Acquisition Corp. DWAC the SPAC that took Donald Trump’s social media platform “Truth Social” public is down 30.74% over the last five trading sessions amid Musk taking a 9.2% stake in competitor Twitter.

Invesco QQQ Trust Series 1 QQQ U.S. indices are trading lower as investors continue to assess the Fed rate hike outlook and monitor the Russia-Ukraine conflict. A rise in U.S. Treasury yields has also weighed on the market.