SmileDirectClub Inc. SDC continued to be the most-discussed stock on Reddit’s r/WallStreetBets forum as on Thursday night, while Tilray Inc. TLRY, Alibaba Group Holding Limited BABA, Tesla Inc. TSLA and GameStop Corp. GME 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 588 mentions as at press time, followed by orthodontics company SmileDirectClub with 314 mentions, data from Quiver Quantitative showed.
Cannabis company Tilray and Chinese e-commerce giant Alibaba are in the third and fourth positions, having attracted 306 and 213 mentions, respectively.
Apart from electric vehicle maker Tesla and videogame retailer GameStop, the other stocks trending on the forum include social media giant Facebook Inc. FB, e-commerce company ContextLogic Inc. WISH, chipmaker Advanced Micro Devices Inc. AMD and data analytics company Palantir Technologies Inc. PLTR.
See Also: Tilray CEO: Expand The Company's Medical Cannabis Business, 'Opportunities Are Tremendous'
Why It Matters: SmileDirectClub is seen as a potential short squeeze candidate by investors on the forum. The company has 32.6% of its float held short, as per the latest data from Yahoo! Finance.
Tilray is seeing high interest on the forum after the company reported a net loss for the first quarter that widened from last year while net revenue surged 43%, but missed analysts’ consensus estimates.
Tesla CEO Elon Musk said at the company’s annual shareholders meeting on Thursday that the electric vehicle maker will move its headquarters from Palo Alto, California to Austin, Texas. He also predicted that the Model Y will be the best-selling vehicle in terms of volume by 2023.
Price Action: SPDR S&P 500 ETF Trust’s shares closed almost 0.9% higher in Thursday’s regular trading session at $438.66 and further rose 0.2% in the after-hours session to $439.60.
SmileDirectClub shares closed 2.4% lower in the regular trading session at $6.59 and further declined almost 0.5% in the after-hours session to $6.56.
Tilray shares closed 2.1% higher in the regular trading session at $11.02 but declined 0.6% in the after-hours session to $10.95.
Read Next: Tesla Releases Software Update 2021.36, Bringing Free Improvements To Owners
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