SPDR S&P 500 ETF Trust SPY and Clover Health Investments Corp. CLOV are seeing the highest interest on Reddit’s r/WallStreetBets forum, while GameStop Corp. GME and AMC Entertainment Holdings Inc. AMC also remained in the spotlight.
What Happened: SPDR S&P 500 ETF Trust remained the most-discussed stock on the forum with 639 mentions and was followed by medical insurance technology company Clover Health with 542 mentions during the last 24 hours at press time, data from Quiver Quantitative showed.
GameStop took the third spot with 273 mentions, while movie theatre chain AMC Entertainment attracted 250 mentions.
The other stocks that are trending on the forum include Chinese ride-hailing company DiDi Global Inc. DIDI, e-commerce company ContextLogic Inc. WISH, e-commerce and cloud services giant Amazon.com Inc. AMZN, renewable natural gas company Clean Energy Fuels Corp. CLNE, space tourism company Virgin Galactic Holdings Inc. SPCE and tech giant Apple Inc. AAPL.
Why It Matters: Shares of AMC Entertainment fell despite rallying earlier in the session after the company said it no longer plans a vote-seeking shareholder approval on its previously announced 25-million-share offering.
Amazon’s shares rallied after it was reported that the Department of Defense canceled the $10 billion JEDI cloud contract that triggered a legal fight between Amazon.com and Microsoft Corp. MSFT. In addition, Jeff Bezos officially passed the Amazon CEO baton to Andy Jassy on Monday.
Apple is seeing increased interest from retail investors amid rumors that the company’s new iPhone series remains on track for a September launch.
Price Action: SPDR S&P 500 ETF Trust shares closed almost 0.2% lower in Tuesday’s regular trading session at $432.93 and further declined almost 0.2% in the after-hours session to $432.18.
Clover Health shares closed 14.6% lower in the regular trading session at $10.00, but rose 1.3% in the after-hours session to $10.13.
AMC Entertainment shares closed almost 3.9% lower in the regular trading session at $49.96 and further declined 0.7% in the after-hours session to $49.59.
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