Tesla Becomes Top WallStreetBets Interest And These Are Other Top Trends Today

Tesla Inc. TSLA has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of Tuesday night, while SmileDirectClub Inc. SDC, SoFi Technologies Inc. SOFI, GameStop Corp. GME and Apple Inc. AAPL 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 576 mentions as at press time, followed by electric vehicle maker Tesla with 157 mentions, data from Quiver Quantitative showed.

Orthodontics company SmileDirectClub and online personal finance company SoFi Technologies are in the third and fourth positions, having attracted 143 and 126 mentions, respectively.

Apart from videogame retailer GameStop and tech giant Apple, the other stocks trending on the forum include biopharmaceutical company Ocugen Inc. OCGN, social media giant Facebook Inc. FB, and Medicare Advantage insurer Clover Health Investments Corp. CLOV.

In addition to these stocks, investors are looking ahead to the release of the Consumer Price Index (CPI) data for September from the Bureau of Labor Statistics on Wednesday.

See Also: Why Ocugen's Stock Is Trading Higher Today

Why It Matters: Tesla is seeing high interest on the forum after it was reported the company sold approximately 56,000 vehicles in China in the month of September and also recorded a big jump in overall production.

SoFi Technologies’ shares extended gains to a second straight day on Tuesday after Morgan Stanley analyst Betsy Graseck initiated coverage of the company with an Overweight rating and a price target of $25.

Apple continues to be among the most-discussed stocks on the forum after it was reported that the tech giant has sent out invites for a special launch event, titled “Unleashed,” which it plans to host on Oct. 18.

Price Action: SPDR S&P 500 ETF Trust’s shares closed almost 0.3% lower in Tuesday’s regular trading session at $433.62 and further declined almost 0.3% in the after-hours session to $432.42.

Tesla shares closed 1.75 higher in the regular trading session at $805.72, but edged down less than 0.1% in the after-hours session to $805.64.

SmileDirectClub shares closed 1.1% lower in the regular trading session at $6.05, but rose almost 0.2% in the after-hours session to $6.06.