WallStreetBets Sets Sights On Tech: What Retail Traders Are Targeting Tuesday

There's one company that went public this year, as well as several tech names on retail traders' radars Tuesday. 

Here's a look at the most-mentioned stocks on Reddit's r/WallStreetBets over the last 24 hours, according to data from Swaggy Stocks. 

• Advanced Micro Devices, Inc. AMD
• Tesla, Inc. TSLA
• Cava Group, Inc. CAVA
• Nvidia Corporation NVDA
• C3.ai, Inc. AI

What To Know: AMD shares have gained nearly 16% over the past five days. The company announced its new MI300 Series data center AI accelerator chips at its Advancing AI conference last week.

“AI is the future of computing and AMD is uniquely positioned to power the end-to-end infrastructure that will define this AI era, from massive cloud installations to enterprise clusters and AI-enabled intelligent embedded devices and PCs,” AMD CEO Lisa Su said.

Tesla shares have gained nearly 10% over the past month. Following the Cybertruck delivery event at the end of November, which was streamed live on CEO Elon Musk's X platform, Wedbush analyst Dan Ives reiterated Tesla with an Outperform rating and price target of $310.

Cava shares are moving on heavy volume after the IPO lockup period for blocks of shares expired on Tuesday without any related selling pressure. Cava is a Mediterranean fast-casual restaurant brand that made its public debut on the NYSE in June.

Nvidia shares have dipped over the past month after soaring for most of the year. U.S. Commerce Secretary Gina Raimondo recently said every aspect of Nvidia's AI accelerator chips are being examined by the U.S. to ensure compliance with current export controls.

Related News: Nvidia's AI Chips Eat Intel's Lunch: Here's How Much More You'd Have Made If You Invested $1,000 In Jensen Huang's Company Instead Of Intel In 2023

C3.ai shares are down more than 8% over the past five days after the company reported second-quarter revenue below expectations last week. Several analysts lowered price targets on the stock after the earnings report was released.

AMD, TSLA, CAVA, NVDA, AI Price Action: At publication time, AMD was up 2.36%, Tesla was down 1.19%, Cava was up 19.4%, Nvidia was up 2.16% and C3.ai was down 1.53%, per Benzinga Pro.

Image: Alexander Naumann from Pixabay