Alibaba Group Holding Limited BABA, Nvidia Corp. NVDA, Pfizer Inc. PFE and GameStop Corp. GME are among the stocks seeing the highest interest on Reddit’s r/WallStreetBets forum early Tuesday.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust SPY has again emerged as the most-discussed stock on the forum with 700 mentions, followed by Chinese e-commerce giant Alibaba with 352 mentions, data from Quiver Quantitative showed.
Chipmaker Nvidia and biotechnology company Pfizer are in the third and fourth positions, having attracted 288 and 232 mentions respectively.
Apart from videogame retailer GameStop, the other stocks that are trending on the forum include chipmaker Advanced Micro Devices Inc. AMD, electric vehicle maker Tesla Inc. TSLA, Medicare Advantage provider Clover Health Investments Corp. CLOV, electric vehicle statup Canoo Inc. GOEV and AMC Entertainment Holdings Inc. AMC.
See Also: Why Former Veteran NYSE Floor Trader Bought Shares of NVIDIA, Alibaba and Facebook on Monday
Why It Matters: Alibaba is seeing high interest on the forum after it was reported that China has initiated a probe into Hangzhou’s top government official for alleged violations of discipline and law. The probe assumes significance because Alibaba as well as its affiliate company Ant Financial are headquartered in Hangzhou.
Pfizer’s shares closed higher on Monday after the U.S. Food and Drug Administration granted full approval for the COVID-19 vaccine developed by Pfizer and its German partner BioNTech SE BNTX.
Shares of chipmakers, including Nvidia and Advanced Micro Devices, rose on Monday after it was reported that Maxim Integrated Products Inc.'s MXIM acquisition by Analog Devices Inc. ADI was approved by Chinese anti-trust officials.
Price Action: SPDR S&P 500 ETF Trust shares closed almost 0.9% higher in Monday’s regular trading session at $447.26 and further rose almost 0.2% in the after-hours session to $448.00.
Alibaba shares closed almost 2% higher in the regular trading session at $161.06 and further rose almost 1.1% in the after-hours session to $162.77.
Nvidia’s shares closed almost 5.5% higher in the regular trading session at $219.58, but declined almost 0.2% in the after-hours session to $219.20.
Read Next: Online Reaction To Elon Musk's Tesla Bot: Is He Serious Or Delirious?
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