BlackBerry Emerges As Top WallStreetBets Interest; SmileDirectClub, Nike, Palantir, Canoo Are Other Top Trends

BlackBerry Limited BB has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of Thursday night, while SmileDirectClub Inc. SDC, Canoo Inc. GOEV,  TMC the metals company Inc. TMC and Nike Inc. NKE 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 660 mentions as at press time, followed by Canada-based cybersecurity company BlackBerry with 348 mentions, data from Quiver Quantitative showed.

Oral care company SmileDirectClub and electric vehicle startup Canoo are in the third and fourth positions, having attracted 181 and 179 mentions, respectively.

Apart from deep sea mining startup TMC the metals company and sports apparel retailer Nike, the other stocks trending on the forum include data analytics company Palantir Technologies Inc. PLTR, e-commerce company ContextLogic Inc. WISH, cybersecurity company IronNet Inc. IRNT and home décor retailer Kirkland’s Inc. KIRK.

See Also: What's Going On With Palantir Stock Today?

Why It Matters: BlackBerry continues to see high interest on the forum after the company reported better-than-expected earnings results for the second quarter on Wednesday.

Canoo has emerged among the most-discussed stocks on the forum. A post on the forum noted that the company meets the conditions for a short squeeze as it has a short interest of 31.2% and a low float of 99.24 million shares.

Shares of Nike tumbled almost 4% in the after-hours trading session after the company reported better-than-expected earnings for the first quarter, while revenues missed estimates and the company lowered its fiscal 2022 sales outlook.

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Price Action: SPDR S&P 500 ETF Trust’s shares closed 1.2% higher in Thursday’s regular trading session at $443.18 and further rose less than 0.1% in the after-hours session to $443.55.

BlackBerry’s shares closed almost 10.9% higher in the regular trading session at $10.60 and further rose almost 0.5% in the after-hours session to $10.65.

SmieDirectClub’s shares closed almost 2.6% lower in the regular trading session at $6.10, but rose almost 1.2% in the after-hours session to $6.17.

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