GameStop, AMC, Nokia And Other Top Stocks WallStreetBets Users Are Talking About Today

GameStop, AMC, Nokia And Other Top Stocks WallStreetBets Users Are Talking About Today

Reddit community r/WallStreetBets’ members have been driving a surge in stocks of several companies over the past weeks in what they describe as a fight against short sellers.

Heading into Thursday’s pre-market session, stocks of several companies with high short interest continue to see sky-high activity amid the WallStreetBets community.

These are the top 10 talked about stocks on the subreddit as of press time, according to official r/WallStreetBets analytics data:

GameStop Corp. GME: The video game retailer’s stock has been at the center of the short squeeze. Its stock surged 134.8% on Wednesday alone at $347.51 and is up 1,744% year-to-date.

Melvin Capital and Citron Research said they have closed their short positions on GME, but WallStreetBets has dubbed these announcements as attempts at "manipulation" and called for members to continue to buy and hold on the GME stock.  According to the New York Times, Melvin investor Point72 has taken a 15% loss over the GME short squeeze.

AMC Entertainment Holdings Inc. AMC: The movie theater chain which struggled to stay afloat during the COVID-19 pandemic is one of the other prime beneficiaries of the Reddit users-led short squeeze.

AMC stock surged a whopping 301% on Wednesday alone at $19.90 but tanked after-hours by 26.6% after WallStreetBets disappeared briefly from Reddit.

Nokia Oyj NOK: The veteran Finnish consumer electronics company is seeing the third-highest interest on the subreddit, with users frequently describing its purchase as their move for Thursday.

Nokia said in a statement Wednesday it is not aware of any material event that could be causing the rise in its stock price. The company's stock surged 38.48% on Wednesday at $6.55 and is up 67.5% YTD. 

BlackBerry Ltd. BB: The once-popular smartphone maker’s stock surged 32.66% on Wednesday to $25.10. BlackBerry has also said it isn’t aware of any material event impacting the stock price and also announced an expanded partnership with Baidu Inc. BIDU on self-driving technology.

Palantir Technologies Inc. PLTR: Palantir shares surged 10.2% on Wednesday as it too appeared to become the target of WSB short squeeze. 

iShares Silver Trust SLV: A Reddit post with 4,000 upvotes dubbed silver bullion market to be “one of the most manipulated on earth.” 

“Any short squeeze in silver paper shorts would be EPIC. We know billion banks are manipulating gold and silver to cover real inflation,” the WallStreetBets post says, adding that inflation-adjusted Silver should be $1,000 and not $25. SLV closed 0.97% lower at $23.42 on Wednesday.

Bed Bath & Beyond Inc. BBBY The home merchandise retailer’s stock saw a 43.45% uptick on Wednesday despite two analyst downgrades as short squeeze interest remained high.

Tesla Inc. TSLA: The electric vehicle maker reported a 46% rise in revenue for the fourth quarter on Wednesday, beating street consensus. The stock dropped 2.14% lower to $864.16 in the regular session.

Tesla CEO Elon Musk has expressed support for the WallStreetBets community.

First Majestic Silver Corp. AG: The stock surged on similar lines as SLV, with WSB users saying “Silver is probably the most (naked) shorted commodity on earth.”

“$AG is essentially $GME for Silver, highest short float in the sector, nice leverage to silver, and just broke out above 10 year resistance too,” a user said in a popular post on the subreddit.

Virgin Galactic Holdings Inc SPCE: The spaceflight company is also seeing high interest on the subreddit, with users pointing out the high short interest.

Virgin Galactic Chairman Chamath Palihapitiya has also come out as one of the most ardent supporters of WallStreetBets.

Read Next: AMC, National Beverage And 8 More Heavily-Shorted Stocks To Watch

Posted In: Chamath PalihapitiyaCitron ResearchElon MuskRedditShort Squeezesocial mediawallstreetbetsShort SellersCommoditiesMarketsTechTrading Ideas

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