Tesla Remains Top-Discussed Stock On WallStreetBets; Trump's SPAC Partner, Microsoft And These Are Other Top Trends Today

Tesla Inc. TSLA remained the most-discussed stock on Reddit’s r/WallStreetBets forum as of Wednesday night, while Digital World Acquisition Corp. DWAC, Microsoft Corp. MSFT, Advanced Micro Devices Inc. AMD and Facebook Inc. FB are also seeing high interest.

What Happened: Electric vehicle maker Tesla is seeing the highest interest on the forum with 525 mentions, followed by exchange-traded fund SPDR S&P 500 ETF Trust SPY with 507 mentions as at press time, data from Quiver Quantitative showed.

Special purpose acquisition company (SPAC) Digital World Acquisition and software giant Microsoft are in the third and fourth positions, having attracted 192 and 180 mentions, respectively.

Apart from chipmaker Advanced Micro Devices and social media giant Facebook, the other stocks trending on the forum include cybersecurity company IronNet Inc. IRNT, trading app Robinhood Markets Inc. HOOD, tech giant Apple Inc. AAPL and e-commerce giant Amazon.com Inc. AMZN.

See Also: 4 Ways Hertz Is Creating Value For Tesla

Why It Matters: Tesla, which surpassed a market capitalization of $1 trillion earlier this week, continues to see high interest on the forum.

It was reported that car rental firm Hertz Global Holdings Inc. HTZZ formed a new partnership with Uber Technologies Inc. UBER to make up to 50,000 Tesla vehicles available for drivers to rent when using the Uber network.

Digital World Acquisition, which announced a merger with former President Donald Trump’s new social media company Trump Media & Technology Group, gained 9.9% in Wednesday’s regular trading session.

It was reported on Wednesday that a regulatory filing indicated Trump will continue to lead the company even if he runs for president in 2024 or is convicted of a felony.

IronNet’s shares surged more than 58% in Wednesday’s trading after the company said it has joined the Microsoft Intelligent Security Association (MISA) to deliver better security solutions to customers. The stock is also seen as a potential short squeeze candidate by retail investors.

Price Action: Tesla shares closed 1.9% higher in Wednesday’s regular trading session at $1,037.86, while SPDR S&P 500 ETF Trust shares closed 0.4% lower at $453.94.

Digital World Acquisition shares closed almost 9.9% higher in Wednesday’s trading at $64.89.

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