Tesla Remains Top WallStreetBets Interest; GameStop, Lucid And These Are Other Top Trends

Tesla Inc. TSLA continues to be the most-discussed stock on Reddit’s r/WallStreetBets forum as of Monday night, while GameStop Corp. GME, Lucid Group Inc. LCID, Ocugen Inc. OCGN and SoFi Technologies Inc. SOFI are also seeing high interest.

What Happened: Electric vehicle maker Tesla is seeing the highest interest on the forum with 1,033 mentions, while videogame retailer GameStop was a distant second with 353 mentions.

Exchange-traded fund SPDR S&P 500 ETF Trust SPY and electric vehicle maker Lucid Group are in the third and fourth positions, having attracted 349 and 139 mentions, respectively.

Apart from biopharmaceutical company Ocugen and online personal finance company SoFi Technologies, the other stocks trending on the forum include Mark Zuckerberg-led Meta Platforms Inc. FB, e-commerce giant Amazon.com Inc. AMZN, movie theatre chain AMC Entertainment Holdings Inc. AMC and chipmaker Advanced Micro Devices Inc. AMD.

See Also: Why AMC Entertainment Shares Are Rising Today

Why It Matters: Tesla continues to see high interest on the forum after the company’s market capitalization surpassed $1 trillion last week.

It was reported on Monday that Tesla has expanded its plans for battery production and signed a three-year contract for the supply of battery-grade lithium hydroxide with Chinese company Ganfeng Lithium.

GameStop’s shares surged 9% on Monday after the company disclosed in a regulatory filing on Friday that Chief Operating Officer Jenna Owens has left just seven months after joining the company.

In addition, GameStop Chairman Ryan Cohen posted “MGGA” in a tweet on Sunday, which was interpreted by investors as “Make GameStop Great Again.”

Ocugen’s stock gained more than 18% in Monday’s trading session after it was reported that investors circulated a recent release from the Australian Government mentioning recognition of Covaxin, the COVID-19 vaccine of Ocugen’s partner, India-based Bharat Biotech.

Price Action: Tesla shares closed almost 8.5% higher in Monday’s regular trading session at $1208.59, while GameStop shares closed 9.0% higher at $200.09.

SPDR S&P 500 ETF Trust shares closed almost 0.2% higher in Monday’s trading at $460.04.

Lucid Group shares closed almost 4.3% higher in Friday’s trading at $36.99.

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