GameStop Corp. GME has re-emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum after a long hiatus, while AMC Entertainment Holdings Inc. AMC, Alibaba Group Holding Limited BABA and BlackBerry Limited BB are also seeing high interest on the forum as of Tuesday night.
What Happened: GameStop is seeing the highest interest on the forum with 1,577 mentions, while exchange-traded fund SPDR S&P 500 ETF Trust SPY was a distant second with 539 mentions, data from Quiver Quantitative showed.
Movie theatre chain AMC Entertainment and Chinese e-commerce giant Alibaba are in the third and fourth positions, having attracted 496 and 394 mentions, respectively.
Apart from Canada-based cybersecurity company BlackBerry, the other stocks that are trending on the forum include Medicare Advantage provider Clover Health Investments Corp. CLOV, Wish e-commerce platform operator ContextLogic Inc. WISH, chipmaker Nvidia Corp. NVDA, Chinese e-commerce company JD.com Inc. JD and biotechnology company Pfizer Inc. PFE.
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Why It Matters: GameStop is seeing renewed interest on the forum after the company’s shares surged more than 27% in Tuesday’s regular trading session amid heavy trading volume.
AMC Entertainment’s shares extended gains to a third straight day amid optimism that full approval by the FDA for Pfizer’s COVID-19 vaccine could increase vaccination rates and improve movie theatre traffic in the future.
Shares of Chinese tech companies, including Alibaba and JD.com, rebounded on Tuesday from a recent slump amid more clarity on the regulatory outlook for these companies in China. Better-than-expected earnings from JD.com also lifted the stocks.
Price Action: GameStop shares closed 27.5% higher in Tuesday’s regular trading session at $210.29 and further rose 0.5% in the after-hours session to $211.40.
SPDR S&P 500 ETF Trust shares closed almost 0.2% higher in the regular trading session at $447.97, but declined less than 0.1% in the after-hours session to $447.80.
AMC Entertainment shares closed 20.3% higher in the regular trading session at $44.26 and further rose almost 4.4% in the after-hours session to $46.20.
Read Next: What's Going On With BlackBerry Stock?
Photo: Will Buckner on Wikimedia
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