Tesla Remains Top WallStreetBets Interest; Rivian, Palantir And These Are Other Top Trends

Tesla Inc. TSLA continues to be the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Thursday, while Rivian Automotive Inc. RIVN, SoFi Technologies Inc. SOFI, Palantir Technologies Inc. PLTR and Advanced Micro Devices Inc. AMD 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 601 mentions as at press time, followed by electric vehicle maker Tesla with 562 mentions.

Electric vehicle company Rivian and online personal finance company SoFi Technologies are in the third and fourth positions, having attracted 445 and 248 mentions, respectively.

Apart from data analytics company Palantir Technologies and chipmaker Advanced Micro Devices, the other stocks trending on the forum include graphics chipmaker Nvidia Corp. NVDA, fintech lender Affirm Holdings Inc. AFRM and e-commerce company ContextLogic Inc,. WISH.

In addition to these stocks, investors also focused on the Consumer Price Index (CPI) data for October released on Wednesday.

The Labor Department reported a 6.2% year-over-year increase in CPI in the month of October, the fastest inflation growth since late 1990.

See Also: Why Affirm Shares Are Rising

Why It Matters: Tesla continues to see high interest on the forum after it was reported that CEO Elon Musk sold about $4.83 billion of the electric vehicle maker’s shares as part of a plan set in motion in September.

Shares of Rivian Automotive, an electric vehicle manufacturer backed by Amazon.com Inc. AMZN and Ford Motor Co. F, made their public debut Wednesday and ended the day’s trading up 29%.

SoFi Technologies reported third-quarter revenue that beat analysts’ estimates and said it added 377,000 new members, the second highest-quarterly increase in the company’s history.

Price Action: SPDR S&P 500 ETF Trust shares closed 0.8% lower in Wednesday’s regular trading session at $463.62, but rose 0.1% in the after-hours session to $464.29.

Tesla shares closed 4.3% higher in the regular trading session at $1,067.95 and further rose almost 2.7% in the after-hours session to $1,096.50.

shares closed almost 9.4% lower in the regular trading session at $24.25 and further lost 0.6% in the after-hours session to $24.10.

Read Next: Amazon 'Doubling Down' On Rivian IPO: What Investors Need To Know