Tesla Inc. TSLA continued to be the most-discussed stock on Reddit’s r/WallStreetBets forum on Tuesday, while SmileDirectClub Inc. SDC, Palantir Technologies Inc. PLTR, Alibaba Group Holding Limited BABA and Micron Technology Inc. MU also see high interest.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust SPY is seeing the highest interest on the forum with 833 mentions as at press time, followed by electric vehicle maker Tesla with 186 mentions, data from Quiver Quantitative showed.
Exchange-traded fund Invesco QQQ Trust QQQ and oral care company SmileDirectClub are in the third and fourth positions, having attracted 142 and 141 mentions, respectively.
Apart from data analytics company Palantir Technologies, Chinese e-commerce giant Alibaba and chipmaker Micron Technology, the other stocks trending on the forum include videogame retailer GameStop Corp. GME, electric vehicle startup Canoo Inc. GOEV and technology giant Apple Inc. AAPL.
Why It Matters: Tesla is seeing high interest on the forum as the electric vehicle maker is scheduled to report its third-quarter delivery numbers this week. The company’s stock declined 1.7% in Tuesday’s regular trading session along with other technology stocks amid a rise in bond yields.
Alibaba also continues to see high interest on the forum. The Chinese e-commerce giant has been forced by Chinese regulators to open up its walled garden and add rival Tencent Holdings Limited’s TCEHY WeChat payment system in some of its apps.
Micron Technology has emerged among the most-discussed stocks on the forum after the company reported better-than-expected earnings results for the fourth quarter, but issued a weaker-than-expected outlook for the first quarter.
Price Action: SPDR S&P 500 ETF Trust’s shares closed more than 2% lower in Tuesday’s regular trading session at $433.72, but rose almost 0.3% in the after-hours session to $434.91.
Tesla’s shares closed 1.7% lower in the regular trading session at $777.56 and further declined almost 0.5% in the after-hours session to $774.00.
Invesco QQQ Trust shares closed almost 2.9% lower in the regular trading session at $359.72.
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