Virgin Galactic Sees Sky-High WallStreetBets Interest Heading Into New Week; Krispy Kreme, AMC Other Top Interests

Heading into a new trading week, Virgin Galactic Holdings Inc. SPCE is seeing the highest interest on Reddit’s r/WallStreetBets forum, followed by SPDR S&P 500 ETF Trust SPY. However, overall discussions on the forum remained muted as is typical for weekends.

What Happened: Virgin Galactic emerged as the most-discussed stock on the forum with 554 mentions, while exchange-traded fund SPDR S&P 500 ETF Trust was a distant second with 141 mentions during the last 24 hours at press time, data from Quiver Quantitative showed.

Doughnut chain Krispy Kreme Inc. DNUT - which made its debut on the public markets in early July - took the third sport with 53 mentions, followed by movie theatre chain AMC Entertainment Holdings Inc. AMC with 31 mentions.

The other stocks that are seeing interest on the forum include medical insurance technology company Clover Health Investments Corp. CLOV, videogame retailer GameStop Corp. GME, tech giant Apple Inc. AAPL, electric vehicle maker Tesla Inc. TSLA and chipmaker Advanced Micro Devices Inc. AMD.

In addition to these stocks, investors are looking ahead to the release of the Consumer Price Index (CPI) data for June from the Bureau of Labor Statistics on Tuesday.

Why It Matters: Virgin Galactic is seeing high interest from retail investors after the company’s founder Sir Richard Branson successfully flew in space as a passenger on the company’s Unity 22 spacecraft on Sunday.

Shares of SPDR S&P Trust rose on Friday after the benchmark S&P 500 Index closed 1.1% higher.

Price Action: Virgin Galactic shares closed 6.6% lower in Friday’s regular trading session at $49.20, while SPDR S&P 500 ETF Trust shares closed almost 1.1% higher at $435.52.

Krispy Kreme shares almost 6% higher in Friday’s regular trading session at $19.29.

Photo by The Focal Project on Flickr

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