SmileDirectClub Inc. SDC has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum over 24 hours leading to press time on early Tuesday, while IronNet Inc. IRNT, Palantir Technologies Inc. PLTR, Apple Inc. AAPL and Tesla Inc. TSLA are also seeing high interest.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust SPY is seeing the highest interest on the forum with 1,404 mentions as at press time, followed by oral care company SmileDirectClub with 510 mentions, data from Quiver Quantitative showed.
IronNet has attracted 317 mentions while data analytics company Palantir attracted 124 mentions.
The other stocks trending on the forum include electric vehicle maker Tesla, tech giant Apple, deep sea mining starup TMC the metals company Inc. TMC, videogame retailer GameStop Corp. GME and Chinese e-commerce giant Alibaba Group Holding Ltd. BABA.
See Also: Wish Patch To Be Replaced On Lakers Jersey As Latter Signs $100M Deal With South Korea's Bibigo
Why It Matters: SmileDirectClub is seeing high interest on the forum as retail investors highlight the company’s short interest. About 32.6% of the company’s float is held short, according to the latest data from Yahoo! Finance.
Shares of IronNet, seen as a potential candidate for a “gamma squeeze,” tumbled almost 27% in Friday’s trading session but regained 10% on Monday, even amid a market-wide slump.
TMC the metals company’s shares fell more than 14% on Monday. A post on the forum noted that TMC is set for an “explosive week” as around 3.6 million shares of the company have been shorted, while its available public float is only 2.7 million shares.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
