WallStreetBets Moves Past Virgin Galactic In Favor Of S&P 500; Clover Health, Nokia, AMC Other Top Trends

Virgin Galactic Holdings Inc SPCE lost the top place in terms of r/WallStreetbets mentions to SPDR S&P 500 ETF Trust SPY as of Tuesday night, while Nokia Oyj NOK and Clover Health Investments Corp CLOV were among the top trends.

What Happened: With 944 mentions, S&P 500 was the top trending name on the Reddit investor discussion board. Nokia and Clover Health came at the second and third spots with 318 and 314 mentions, respectively, as per Quiver Quantitative data.

Other notable names discussed on WSB included AMC Entertainment Holdings Inc AMC with 312 mentions and GameStop Corporation GME with 141 mentions.

Site: How To Buy GameStop (GME) Shares

Tilray Inc TLRY, SoFi Technologies Inc SOFI, Alibaba Group Holding Ltd BABA, and Tesla Inc TSLA were among the other most-discussed names on WSB.

Apple Inc AAPL and BlackBerry Ltd BB were also trending on the investor forum.

Why It Matters: Virgin Galactic, which dominated discussions on WSB since founder Sir Richard Branson flew to the edge of space on Sunday, saw the interest on the forum reduce with 207 mentions.

See Also: 5 Stocks Retail Investors Have Eyes On Amid Richard Branson-Fueled Space Excitement

On Tuesday, shares of SPDR S&P500 saw unusual options activity post which the stock price moved higher.

Nokia shares rose after the company said it expects to revise its 2021 financial guidance. The Finnish telecom major is expected to release its second quarter and half-year financial numbers on July 29.

Nokia stock has broken the $5 resistance level and could see a trend change, as per Benzinga’s Tyler Bundy.

Price Action: Nokia shares closed 9.4% higher at $5.88 in Tuesday’s regular session and rose another 1.19% to $5.95 in the after-hours.

On the same day, SPDR S&P 500 moved 0.34% lower to $435.59 in the regular session and fell 0.13% in the after-hours trading. The underlying S&P 500 index closed 0.35% lower.

Read Next: Nokia Rekindles Retail Interest Amid Stonk-Blitz: What You Should Know About Its Prospects