Facebook Becomes Talk Of The Town For WallStreetBets; Alibaba, Tesla, Tilray And These Are Other Top Trends

Facebook Inc. FB has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of Monday night, while ContextLogic Inc. WISH, Alibaba Group Holding Ltd. BABA, Tesla Inc. TSLA and Tilray Inc. TLRY are also seeing high interest.

What Happened: Facebook is seeing the highest interest on the forum with 695 mentions as at press time, followed by exchange-traded fund SPDR S&P 500 ETF Trust SPY with 648 mentions, data from Quiver Quantitative showed.

E-commerce company ContextLogic and Chinese e-commerce giant Alibaba are in the third and fourth positions, having attracted 186 and 182 mentions, respectively.

Apart from electric vehicle maker Tesla and cannabis company Tilray, the other stocks trending on the forum include data analytics company Palantir Technologies Inc. PLTR, exchange-traded fund Invesco QQQ Trust QQQ, videogame retailer GameStop Corp. GME and tech giant Apple Inc. AAPL.

 See Also: Mark Zuckerberg Loses $7B In Wealth From '60 Minutes' Whistleblower Interview, App Outage

Why It Matters: Facebook is seeing high interest on the forum after the company’s Facebook, Instagram and WhatsApp platforms suffered a widespread outage for more than six hours on Monday.

The company’s stock also tumbled after a Facebook whistleblower revealed her identity on CBS’ “60 Minutes” over the weekend and accused the social media giant of “betrayal of democracy.”

ContextLogic’s shares fell more than 9% in Monday’s regular trading session after Oppenheimer analyst Jason Helfstein cut his rating on the stock to Underperform from Perform and announced a $4 price target.

Tilray continues to attract interest on the forum ahead of the release of its first-quarter financial results on Thursday. A post on the forum dubbed Tilray as the “perfect buy,” citing the cannabis company’s excellent executive team and its recent merger with Aphria.

Price Action: Facebook shares closed almost 4.9% lower in Monday’s regular trading session at $326.23, but rose almost 0.4% in the after-hours session to $327.40.

SPDR S&P 500 ETF Trust’s shares closed almost 1.3% lower in the regular trading session at $428.64, but edged up less than 0.1% in the after-hours session to $428.79.

ContextLogic shares closed almost 9.4% lower in the regular trading session at $4.85 and further declined 0.4% in the after-hours session to $4.83.

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