Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Tesla Inc. (NASDAQ:TSLA) has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of Wednesday night, while BlackBerry Inc. (NYSE:BB), ContextLogic Inc. (NASDAQ:WISH), Tilray Inc. (NASDAQ:TLRY) and Pinterest Inc. (NYSE:PINS) are also seeing high interest.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust (NYSE:SPY) is seeing the highest interest on the forum with 464 mentions as at press time, followed by electric vehicle maker Tesla with 449 mentions, data from Quiver Quantitative showed.
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Canadian cybersecurity company BlackBerry and e-commerce company ContextLogic are in the third and fourth positions, having attracted 244 and 227 mentions, respectively.
Apart from cannabis company Tilray and social media company Pinterest, the other stocks trending on the forum include Chinese e-commerce giant Alibaba Group Holding Limited (NYSE:BABA), videogame retailer GameStop Corp. (NYSE:GME), social media giant Facebook Inc. (NASDAQ:FB) and PayPal Holdings Inc. (NASDAQ:PYPL).
See Also: Facebook Plans To Rebrand Itself With New Name As Early As This Month: Report
Why It Matters: Tesla is seeing high interest on the forum after the Elon Musk-led company reported third-quarter financial results that beat analysts’ estimates.
Tilray continues to be among the most-discussed stocks on the forum after the cannabis company said Tilray Canada has teamed up with Great North Distributors, Canada’s first national sales broker for legalized adult-use cannabis.
It was reported on Wednesday, citing Bloomberg, that PayPal is exploring the purchase of Pinterest in a deal that could value the digital pinboard site at about $39 billion. PayPal’s shares fell 4.9% in the regular trading session, while Pinterest’s shares gained almost 12.8%.
Price Action: SPDR S&P 500 ETF Trust’s shares closed almost 0.4% higher in the regular trading session at $452.41, but fell almost 0.2% in the after-hours session to $451.59.
Tesla shares closed almost 0.2% higher in the regular trading session at $865.80, but fell 1.6% in the after-hours session to $851.75.
BlackBerry shares closed almost 1% lower in the regular trading session at $11.41, but edged up almost 0.1% in the after-hours session to $11.42.
Read Next: Why Jim Cramer Says PayPal Is Still A Buy Regardless Of Potential Pinterest Acquisition
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.