GameStop Corp. GME has emerged as the most-discussed stock on Reddit r/WallStreetBets forum as of Thursday night, while Clover Health Investments Corp. CLOV, Rocket Lab USA Inc. RKLB, AMC Entertainment Holdings Inc. AMC and Cameco Corp. CCJ are also seeing high interest.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust SPY is seeing the highest interest on the forum with 680 mentions as at press time, followed by videogame retailer GameStop by with 463 mentions, data from Quiver Quantitative showed.
Medicare Advantage insurer Clover Health and space company Rocket Lab are in the third and fourth positions, respectively, having attracted 398 and 279 mentions respectively.
Apart from movie theatre chain AMC Entertainment and uranium producer Cameco, the other stocks that are trending on the forum include electric vehicle maker Tesla Inc. TSLA, Chinese e-commerce giant Alibaba Group Holding Limited BABA, consumer lending platform Upstart Holdings Inc. UPST and sporting goods retailer Academy Sports and Outdoors Inc. ASO.
Why It Matters: GameStop is seeing high interest on the WSB forum despite reporting weaker-than-expected earnings for the second quarter on Wednesday and failing to provide updates on its transformation strategy. The stock lost more than 10% at the beginning of the trading session on Thursday but rallied to close slightly higher as retail investors piled into the stock.
Rocket Lab’s shares surged more than 37% in the regular trading session after the company reported first-half sales of $29.5 million and said it has signed a multi-launch contract with Kinéis, a France-based Internet-of-Things (IoT) connectivity provider.
Academy Sports and Outdoors is seeing high interest on the forum after the company reported better-than-expected results for the second quarter and announced a $500 million share buyback.
Price Action: SPDR S&P 500 ETF Trust shares closed 0.4% lower in Thursday’s regular trading session at $448.98 and further declined less than 0.1% in the after-hours session to $448.76.
GameStop’s shares closed almost 0.2% higher in the regular trading session at $199.18, but declined almost 0.1% in the after-hours session to $199.00.
Clover Health shares closed almost 1.5% lower in the regular trading session at $9.31 and further declined 3.3% in the after-hours session to $9.00.
Read Next: Is GameStop Worth More Than $10 A Share? Analyst Slams 'Shameful' Earnings Call
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
