Skip to main content

Market Overview

Clover Health, ContextLogic Become Top WallStreetBets Interests As AMC, GameStop Lag

Share:
Clover Health, ContextLogic Become Top WallStreetBets Interests As AMC, GameStop Lag

Clover Health Investments Corp. (NASDAQ: CLOV) and ContextLogic Inc. (NASDAQ: WISH) have emerged as the most mentioned stocks on Reddit’s r/WallStreetBets forum even as earlier WSB-favorites like AMC Entertainment Holdings Inc. (NYSE: AMC) and GameStop Corp. (NYSE: GME) lag.

What Happened: Clover Health, which operates as a Medicare Advantage insurer, attracted 5,195 mentions on the investor forum during the last 24 hours at press time, data from Quiver Quantitative showed.

ContextLogic, an e-commerce platform company, has emerged as the second-most discussed stock with 3,543 mentions, while BlackBerry Limited (NYSE: BB) was in third place with 3,227 mentions.

GameStop, Clean Energy Fuels Corp. (NASDAQ: CLNE) and AMC Entertainment attracted 2,444, 2,092 and 1,751 mentions, respectively.

Wendy’s Company (NASDAQ: WEN) is the seventh-most discussed stock on the forum, with 1,293 mentions. One post on the Reddit forum noted that the burger chain had a great financial quarter and its Twitter posts have a “reputation for meming.”

See Also: WallStreetBets Has A New Trading Strategy To Target Stocks Beyond AMC, GameStop, Clover Health, Says Cramer

Why It Matters: The Quiver Quantitative data shows that Clover Health and ContextLogic have now emerged as the most favorite stonks - stocks that are favored by retail investors.

Clover Health, which is backed by SPAC King Chamath Palihapitiya, joined the list of top trending stocks on WallStreetBets in April amid surging short interest. The health-tech company has a short interest of 36.10% of the total float of 112.06 million shares, according to highshortinterest.com, a website that tracks stocks with short interest of over 20%.

ContextLogic is seeing increased interest as retail traders discuss price targets well above current levels and see the company as the target of a potential short squeeze.

Price Action: Clover Health’s shares surged almost 86% in Tuesday’s regular trading session at $22.15 and further gained almost 7.5% in the after-hours trading to $23.80. ContextLogic shares gained almost 50% in the regular trading session at $11.63 and further gained almost 30% in the after-hours session to $15.10.

Wendy’s shares gained almost 26% in the regular trading session at $28.87 and further rose almost 5% in the after-hours session to $30.25.

Read Next: AMC Has Seen More Insiders Sell In Past Week Than The Entire Period Between 2017 And 2020: Report

 

Related Articles (WISH + CLOV)

View Comments and Join the Discussion!

Posted-In: Meme Stocks Reddit stonks wallstreetbetsNews Small Cap Trading Ideas Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com