Benzinga's Daily Brief On Trending Tickers For March 18, 2022: GameStop, Tesla, AMC Entertainment And More

Benzinga’s “Daily Brief On Trending Tickers” highlights top-searched tickers from around the web and uses the Benzinga Pro platform to highlight recent news items possibly impacting those stocks.

The data on the trending tickers is compiled from a list of most-discussed tickers on the popular Reddit forum WallStreetBets.

GameStop GME Shares cratered 8.92% in premarket trading on Friday after GameStop reported quarterly losses of $1.86 per share. The company also reported quarterly sales of $2.25 billion, which beat the analyst consensus estimate of $2.22 billion by 1.5%. This is a 6% increase over sales of $2.12 billion in the same period last year. The company is expected to launch its long-awaited NFT Marketplace in July 2022.

Tesla Inc TSLA In response to the recent COVID-19 outbreak in Shanghai, Tesla is attempting to keep production going at the factory while complying with China's COVID-19 precautions.

China’s National Health Commission announced on Saturday that another 1,524 locally transmitted coronavirus cases had been detected in provinces across mainland China.

AMC Entertainment AMC Shares of AMC are down 1.18% in premarket trading Friday in sympathy with GameStop, as GameStop posted surprise losses for the quarter.

Hycroft Mining Holding Corporation HYMC rose 13% to $1.56 in premarket trading. Hycroft Mining’s amended 13D filing from Mudrick Capital showed the fund raised stake from 24.4 million shares to 37.7 million shares.

Alibaba Group Holding Ltd BABA Great Hill Capital chairman Thomas Hayes told Yahoo Finance: "I think you're going to see China stocks rip for the next eight or 12 months into the China National Congress elections,” in a bullish nod to Alibaba stock.

Amazon.com, Inc AMZN Amazon announced it closed on the $8.5-billion acquisition of MGM studios, giving new movie titles to Amazon’s Prime Video service, stoking further competition with streaming giants like Netflix NFLX, and Disney+ DIS.

ZIM Integrated Shipping Services Ltd ZIM The stock's short percent of float has risen 102.76% since its last report. The company recently reported that it has 5.35 million shares sold short, which is 8.09% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.4 days to cover their short positions on average.

DTE Energy Co DTE A recent analysis by ProPublica highlights the extent in which DTE (Michigan’s largest power company) power shutoffs affect the poorest cities in the state. It is reported that DTE disconnected customers 80,600 times in 2020 and more than doubled that number in 2021. Its 178,200 disconnections for nonpayment last year were its highest annual total since 2016.