SmileDirectClub Inc. SDC has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as on Wednesday night, while Palantir Technologies Inc. PLTR, Tilray Inc. TLRY, Affirm Holdings Inc. AFRM and GameStop Corp. GME 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 745 mentions as at press time, followed by oral care company SmileDirectClub with 414 mentions, data from Quiver Quantitative showed.
Data analytics company Palantir Technologies and cannabis company Tilray are in the third and fourth positions, having attracted 328 and 192 mentions, respectively.
Apart from fintech lender Affirm Holdings and videogame retailer GameStop, the other stocks trending on the forum include e-commerce company ContextLogic Inc. WISH, social media giant Facebook Inc. FB, electric vehicle maker Tesla Inc. TSLA and exchange-traded fund Invesco QQQ Trust QQQ.
See Also: What to Expect From Tesla's Annual Shareholder Meeting Thursday
Why It Matters: SmileDirectClub has emerged as the most-discussed stock on the WSB forum after the company said it would receive a patent from the United States Patent & Trademark Office (USPTO) for the SmileBus concept. Seen as a potential short squeeze candidate by investors on the forum, the company has 32.6% of its float held short, as per the latest data from Yahoo! Finance.
Tilray is seeing high interest on the forum ahead of the release of its first-quarter financial results on Thursday, Oct. 7, before the market open.
Shares of Affirm Holdings gained almost 20% in the regular trading session after retailer Target Corp. TGT said it has added a “buy now pay later” option for customers via Affirm and Sezzle Inc. SEZNL ahead of the holiday season.
Price Action: SPDR S&P 500 ETF Trust’s shares closed 0.4% higher in Wednesday’s regular trading session at $434.90 and further rose almost 0.3% in the after-hours session to $436.12.
SmileDirectClub shares closed almost 15% higher in the regular trading session at $6.75 but declined almost 0.6% in the after-hours session to $6.71.
Palantir Technologies shares closed almost 1.6% higher in the regular trading session at $23.58 but declined almost 0.2% in the after-hours session to $23.54.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
