Tilray Becomes Top WallStreetBets Interest As It Posts Surprise Profit; AMD, Facebook, Apple Other Top Trends
Tilray Inc. (NASDAQ:TLRY) has joined Advanced Micro Devices Inc. (NASDAQ:AMD), Facebook Inc. (NASDAQ:FB) and Apple Inc. (NASDAQ:AAPL) as the stocks seeing the highest interest on Reddit’s r/WallStreetBets forum as of Wednesday night.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust (NYSE:SPY) continues to be the most-discussed stock on the forum with 762 mentions, while Canadian cannabis producer Tilray rose to the second spot as it attracted 574 mentions during the last 24 hours, data from Quiver Quantitative showed.
Chipmaker Advanced Micro Devices and social media giant Facebook are in the third and fourth positions, having attracted 466 and 212 mentions on the forum, respectively.
In addition to Apple, the other stocks that are trending on the forum include Chinese e-commerce giant Alibaba Group Holding Ltd (NYSE:BABA), Canada-based cybersecurity company BlackBerry Limited (NYSE:BB), video game retailer GameStop Corp. (NYSE:GME), medical insurance technology company Clover Health Investments Corp. (NASDAQ:CLOV) and movie theatre chain AMC Entertainment Holdings Ltd. (NYSE:AMC).
Why It Matters: Tilray attracted the attention of retail investors after it reported a surprise profit for the fourth quarter, its first earnings results following its merger with Aphria in May.
Facebook reported second-quarter earnings results that beat analysts’ expectations, but warned that its third- and fourth-quarter revenue growth rates could decelerate “significantly.”
BlackBerry is seeing renewed interest from retail investors as its stock rose on Wednesday. The company said Monday it has launched Jarvis 2.0, a SaaS version of its original flagship software composition analysis tool to address the increasing global complexity and growing cybersecurity threats.
GameStop, currently a constituent of the S&P SmallCap600 index, is joining the S&P MidCap 400 Index next week.
Price Action: SPDR S&P 500 ETF Trust shares closed less than 0.1% lower in Wednesday’s regular trading session at $438.83 but edged up less than 0.1% in the after-hours session to $438.93.
Tilray shares closed almost 25.8% higher in the regular trading session at $16.01 and further rose 2.4% in the after-hours session to $16.40.
Advanced Micro Devices shares closed almost 7.6% higher in the regular trading session at $97.93, but declined almost 0.6% in the after-hours session to $97.38.
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