Tesla, Peloton, AMD Are Seeing High WallStreetBets Interest Today But This Stock Is At The Top Of The Chart

Nvidia Corp. NVDA has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of Thursday night, while Tesla Inc. TSLA, Peloton Interactive Inc. PTON, Advanced Micro Devices Inc. AMD and GameStop Corp. GME are also seeing high interest.

What Happened: Graphics chipmaker Nvidia is seeing the highest interest on the forum with 1,014 mentions, while electric vehicle maker Tesla is a distant second with 581 mentions.

Exchange-traded fund SPDR S&P 500 ETF Trust SPY and fitness products maker Peloton Interactive are in the third and fourth positions, having attracted 456 and 443 mentions, respectively.

Apart from chipmaker Advanced Micro Devices and videogame retailer GameStop, the other stocks trending on the forum include biotechnology company Cassava Sciences Inc. SAVA, sports betting company DraftKings Inc. DKNG, cloud platform operator Cloudflare Inc. NET and Twitter Inc. TWTR CEO Jack Dorsey’s fintech firm Square Inc. SQ.

See Also: Why AMC Entertainment Shares Are Rising Today

Why It Matters: Nvidia is seeing high interest on the forum after Well Fargo Securities analyst Aaron Rakers maintained an Overweight rating on the stock and raised the price target from $245 to $320.

The analyst noted that Metaverse could present Nvidia, which already has an Omniverse platform, with a $10 billion incremental market opportunity over the next five years.

Peloton Interactive has emerged among the most-discussed stocks on the forum after the fitness products company reported worse-than-expected earnings results for the first quarter on Thursday.

Shares of Cassava Sciences surged almost 49% in Thursday’s regular trading session after the company said it was informed by the Journal of Neuroscience that no evidence of data manipulation was found in an article it published in July 2012 describing a new approach to treating Alzheimer's disease.

Price Action: Nvidia’s shares closed 12.0% higher in Thursday’s regular trading session at $298.01, but declined 0.5% in the after-hours session to $296.45.

Tesla shares closed 1.3% higher in the regular trading session at $1,229.91, but declined 0.6% in the after-hours session to $1,222.00.

SPDR S&P 500 ETF Trust shares closed almost 0.5% higher in the regular trading session at $466.91 and further edged up less than 0.1% in the after-hours session to $467.19.

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