GameStop Corp. GME has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Monday, while Micron Technology Inc. MU, Tesla Inc. TSLA, Nvidia Corp. NVDA and Facebook Inc. FB are also seeing high interest.
What Happened: Videogame retailer GameStop is seeing the highest interest on the forum with 76 mentions as at press time, followed by exchange-traded fund SPDR S&P 500 ETF Trust SPY with 65 mentions.
Memory chipmaker Micron Technology and electric vehicle maker Tesla are in the third and fourth positions, having attracted 62 and 52 mentions, respectively.
Apart from graphics chipmaker Nvidia and Facebook, which has rebranded as Meta Platforms Inc., the other stocks trending on the forum include video conferencing platform Zoom Video Communications Inc. ZM, tech giant Apple Inc. AAPL, payment company PayPal Holdings Inc. PYPL and electric vehicle maker Rivian Automotive Inc. RIVN.
Why It Matters: GameStop is seeing high interest on the forum after the company’s stock surged almost 9% in Friday’s regular trading session. The videogame retailer has revealed its deals for Black Friday, including heavy discounts on video games, gaming accessories, and tech.
Micron Technology has emerged among the most-discussed stocks on the forum after it was reported that the stock was dubbed a “top pick” by Evercore ISI as the company could benefit from the “green shoots” seen in the memory industry.
Zoom Video Communications is scheduled to report its financial results for the third quarter on Monday after the market close.
Price Action: GameStop shares closed almost 8.9% higher in Friday’s regular trading session at $228.80 and further edged up almost 0.1% in the after-hours session to $229.00.
SPDR S&P 500 ETF shares closed almost 0.2% lower in the regular trading session at $468.89, but rose less than 0.1% in the after-hours session to $469.17.
Micron Technology shares closed 7.8% higher in the regular trading session at $83.03 and further rose 0.3% in the after-hours session to $83.30.
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Photo: Courtesy of EPIC via Wikimedia
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