Microvast Sees High WallStreetBets Interest As Stock Surges 20% — Robinhood, AMD, AMC, MicroVision Other Top Trends

Robinhood Markets Inc. HOOD continues to be the most-discussed stock on Reddit’s r/WallStreetBets forum as of Thursday night, while Microvast Holdings Inc. MVST, Advanced Micro Devices Inc. AMD and AMC Entertainment Holdings Inc. AMC are also seeing high interest.

What Happened: Online brokerage Robinhood Markets is seeing the highest interest on the forum with 984 mentions, while lithium-ion battery maker Microvast followed with 513 mentions.

Exchange-traded fund S&P SPDR 500 ETF Trust SPY and chipmaker Advanced Micro Devices are in the third and fourth positions, having attracted 478 and 396 mentions respectively, data from Quiver Quantitative showed.

Apart from movie theatre chain AMC Entertainment, the other stocks that are trending on the forum include automotive lidar maker MicroVision Inc. MVIS, video game retailer GameStop Corp. GME, biotechnology company Moderna Inc. MRNA, online personal finance company SoFi Technologies Inc. SOFI, and security software maker Cloudflare Inc. NET.

See Also: AMC Entertainment Traders Shrug Off Latest Hedge Fund Short

Why It Matters: Robinhood shares fell more than 27% in the regular session on Thursday after surging 50% in the previous session. The company said in a regulatory filing that existing shareholders will sell up to 97.9 million shares over time and it will not receive any proceeds from the stock sale.

Microvast’s shares surged more than 20% on Thursday amid high interest from retail investors after posters on the WSB forum were critical of Morgan Stanley analyst Adam Jones’ bearish price target on the stock.

Moderna reported better-than-expected earnings for the second quarter and said its COVID-19 vaccine continues to be 93% effective six months after the second dose.

Cloudflare’s shares fell in Thursday’s after-market trading session after the company reported upbeat earnings for the second quarter, but forecast a wider than expected loss for the third quarter.

Price Action: Robinhood Markets shares closed 27.6% lower in Thursday’s regular trading session at $50.97, but rose almost 0.6% in the after-hours session to $51.26.

Microvast shares closed 20.6% higher in the regular trading session at $10.47 and further rose 3.6% in the after-hours session to $10.85.

SPDR S&P 500 shares closed 0.6% higher in the regular trading session at $441.76, but edged down 0.1% in the after-hours session to $441.31.

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