Newegg Becomes Talk Of The Town For WallStreetBets; Clover Health, GameStop, AMC Remain Other Top Interests

Online consumer electronics retailer Newegg Commerce Inc. NEGG is seeing the highest interest on Reddit’s r/WallStreetBets forum, while Clover Health Investments Corp. CLOV, AMC Entertainment Holdings Inc. AMC and GameStop Corp. GME also remained in the spotlight.

What Happened: Newegg emerged as the most-discussed stock on the forum with 1,031 mentions, while exchange-traded fund SPDR S&P 500 ETF Trust SPY was a distant second with 621 mentions during the last 24 hours at press time, data from Quiver Quantitative showed.

Medical insurance technology company Clover Health took the third spot with 445 mentions.

Apart from videogame retailer GameStop and movie theatre chain AMC Entertainment, the other stocks that are trending on the forum include software company Palantir Technologies Inc. PLTR, renewable natural gas company Clean Energy Fuels Corp. CLNE, tech giant Apple Inc. AAPL and e-commerce company ContextLogic Inc. WISH.

Why It Matters: Shares of Newegg skyrocketed 148% in Wednesday’s trading and also touched a new 52-week high after the company said it is offering professional PC assembly to customers who design their own computers on the Newegg PC Builder.

Share of both AMC Entertainment and GameStop fell on Wednesday, extending losses for the fourth day in a row amid possible profit-taking following recent retail-driven strength in the two stocks.

Price Action: Newegg shares closed 148.4% higher in Wednesday’s regular trading session at $67.57, but declined 13.6% in the after-hours session to $58.40.

SPDR S&P 500 ETF Trust shares closed almost 0.4% higher in the regular trading session at $436.46.

Clover Health shares closed 2.8% lower in the regular trading session at $9.72 but rose almost 2.8% in the after-hours session to $9.99.

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