Tesla Top-Discussed Stock On WallStreetBets Heading Into New Week; GameStop, Nio, Nvidia And These Are Other Top Trends

Tesla Inc. TSLA has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Monday, while GameStop Corp. GME, Cleveland-Cliffs Inc. CLF, Nio Inc. NIO and Nvidia Corp. NVDA are also seeing high interest.

What Happened: Electric vehicle maker Tesla is seeing the highest interest on the forum with 457 mentions, while exchange-traded fund SPDR S&P 500 ETF Trust SPY was a distant second with 221 mentions.

Videogame retailer GameStop and steelmaker Cleveland-Cliffs are in the third and fourth positions, having attracted 44 and 43 mentions, respectively.

Apart from Chinese electric vehicle maker Nio and graphics chipmaker Nvidia, the other stocks trending on the forum include exchange-traded fund Invesco QQQ Trust QQQ, data analytics company Palantir Technologies Inc. PLTR, electric vehicle maker Lucid Group  Inc. LCID and online personal finance company SoFi Technologies Inc. SOFI.

See Also: What Elon Musk Should Do With The Potential Proceeds From 10% Tesla Stake Sale: Twitter Has These Suggestions

Why It Matters: Tesla is seeing high interest on the forum after a majority of the Twitter users who participated in CEO Elon Musk’s poll over the weekend said the billionaire should sell 10% of his company stock.

A post on the forum said that regardless of the Twitter poll results, Musk would definitely sell 10% of his Tesla stock as he faces a tax bill of almost $15 billion.

GameStop continues to be among the most-discussed stocks on the forum after the company said last week that it has entered into a new $500 million global asset-based revolving credit facility with a syndicate of banks.

Cleveland-Cliffs is seen by retail investors as the target of a potential short squeeze.

Chinese electric vehicle maker Nio is scheduled to report its financial results for the third quarter on Tuesday, Nov 9.

Price Action: Tesla shares closed 0.6% lower in Friday’s regular trading session at $1,222.09, while SPDR S&P 500 ETF Trust shares closed almost 0.4% higher at $468.53.

GameStop shares closed 2.1% lower in Friday’s trading at $213.25.

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