Rivian, Lucid, Tesla See High WallStreetBets Interest But This Stock Is At The Top Of The Chart Today

Nvidia Corp. NVDA has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Thursday, while Rivian Automotive Inc. RIVN, Lucid Group Inc. LCID, Tesla Inc. TSLA and Canoo Inc. GOEV are also seeing high interest.

What Happened: Graphics chipmaker Nvidia is seeing the highest interest on the forum with 702 mentions as at press time, followed by electric vehicle maker Rivian with 500 mentions.

Electric vehicle startup Lucid Group and exchange-traded fund SPDR S&P 500 ETF Trust SPY are in the third and fourth positions, having attracted 481 and 401 mentions, respectively.

Apart from electric vehicle makers Tesla and Canoo, the other stocks trending on the forum include payments giant Visa Inc. V, fintech company PayPal Holdings Inc. PYPL, tech giant Apple Inc. AAPL and video game retailer GameStop Corp. GME.

See Also: Why PayPal Shares Are Falling

Why It Matters: Nvidia is seeing the highest interest on the forum after the company reported better-than-expected earnings results for the third quarter and also issued an upbeat forecast for the fourth quarter on Wednesday.

Rivian, Lucid, Tesla and Canoo continue to see high interest from retail investors amid the rising demand for electric vehicles as the world shifts away from fossil fuels.

A post on the forum noted that Ford Motor Co.’s (NYSE;F) stake in Rivian is now worth $17.5 billion despite the electric vehicle maker selling just a few hundred vehicles, while Ford’s own market capitalization stand at only $79 billion even though the automaker sold 1.4 million cars in the first three quarters of 2021.

Visa’s shares fell 4.7% in Wednesday’s regular trading session after it was reported, citing Bloomberg, that Amazon.com Inc.  AMZN will not accept Visa credit cards issued in the U.K from January next year.

Price Action: Nvidia shares closed 3.1% lower in Wednesday’s regular trading session at $292.61, but rose almost 5.2% in the after-hours session to $307.75.

Rivian shares closed almost 15.1% lower in the regular trading session at $146.07 and further lost almost 3.9% in the after-hours session to $140.41.

Lucid shares closed 5.4% lower in the regular trading session at $52.55 and further lost almost 4.3% in the after-hours session to $50.30.

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