Virgin Galactic Holdings Inc SPCE lost the top place in terms of r/WallStreetbets mentions to SPDR S&P 500 ETF Trust SPY as of Tuesday night, while Nokia Oyj NOK and Clover Health Investments Corp CLOV were among the top trends.
What Happened: With 944 mentions, S&P 500 was the top trending name on the Reddit investor discussion board. Nokia and Clover Health came at the second and third spots with 318 and 314 mentions, respectively, as per Quiver Quantitative data.
Other notable names discussed on WSB included AMC Entertainment Holdings Inc AMC with 312 mentions and GameStop Corporation GME with 141 mentions.
Tilray Inc TLRY, SoFi Technologies Inc SOFI, Alibaba Group Holding Ltd BABA, and Tesla Inc TSLA were among the other most-discussed names on WSB.
Apple Inc AAPL and BlackBerry Ltd BB were also trending on the investor forum.
Why It Matters: Virgin Galactic, which dominated discussions on WSB since founder Sir Richard Branson flew to the edge of space on Sunday, saw the interest on the forum reduce with 207 mentions.
On Tuesday, shares of SPDR S&P500 saw unusual options activity post which the stock price moved higher.
Nokia shares rose after the company said it expects to revise its 2021 financial guidance. The Finnish telecom major is expected to release its second quarter and half-year financial numbers on July 29.
Nokia stock has broken the $5 resistance level and could see a trend change, as per Benzinga’s Tyler Bundy.
Price Action: Nokia shares closed 9.4% higher at $5.88 in Tuesday’s regular session and rose another 1.19% to $5.95 in the after-hours.
On the same day, SPDR S&P 500 moved 0.34% lower to $435.59 in the regular session and fell 0.13% in the after-hours trading. The underlying S&P 500 index closed 0.35% lower.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.