Heading into a new trading week, Microvast Holdings Inc. MVST, AMC Entertainment Holdings Inc. AMC and Clover Health Investments Corp. CLOV are among the stocks seeing the highest interest on Reddit’s r/WallStreetBets forum, as of Sunday night.
What Happened: Exchange-traded fund S&P SPDR 500 ETF Trust SPY has emerged as the most-discussed stock on the forum with 103 mentions, followed by lithium-ion battery maker Microvast with 88 mentions.
Movie theatre chain AMC Entertainment and medical insurance technology company Clover Health are in the third and fourth positions, having attracted 39 and 35 mentions respectively, data from Quiver Quantitative showed.
The other stocks that are trending on the forum include chipmaker Advanced Micro Devices Inc. AMD, GameStop Corp. GME, software company Palantir Technologies Inc. PLTR, online brokerage Robinhood Markets Inc. HOOD and online personal finance company SoFi Technologies Inc. SOFI.
In addition to these stocks, investors are looking ahead to the release of the Consumer Price Index (CPI) data for the month of July from the Bureau of Labor Statistics on Wednesday.
Why It Matters: Microvast’s shares rose more than 11% on Friday, extending gains to a third straight day amid high interest from retail investors after posters on the WSB forum were critical of Morgan Stanley analyst Adam Jones’ bearish price target on the stock. A post on the WSB forum has dubbed Microvast a “hidden gem.”
Shares of AMC Entertainment saw unusual options activity on Friday. The company will report its second-quarter earnings results after the market closed on Monday.
Clover Health is scheduled to report its quarterly results on Wednesday, while Palantir Technologies and SoFi Technologies will announce their earnings results on Thursday.
Price Action: SPDR S&P 500 ETF Trust shares closed almost 0.2% higher in Friday’s regular trading session at $442.49, while Microvast shares closed almost 11.3% higher at $11.65.
AMC Entertainment shares closed 2.4% lower on Friday at $32.70.
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Photo: Courtesy of Microvast
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