Tesla Inc. TSLA has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of Sunday night, while Lucid Group Inc. LCID, Meta Platforms Inc. FB, Digital World Acquisition Corp. DWAC and GameStop Corp. GME are also seeing high interest.
What Happened: Electric vehicle maker Tesla is seeing the highest interest on the forum with 136 mentions, followed by exchange-traded fund SPDR S&P 500 ETF Trust SPY with 100 mentions, data from Quiver Quantitative showed.
Electric vehicle maker Lucid and Meta are in the third and fourth positions, having attracted 43 and 38 mentions, respectively.
Apart from special purpose acquisition company Digital World Acquisition and videogame retailer GameStop, the other stocks trending on the forum include chipmakers Nvidia Corp. NVDA and Advanced Micro Devices Inc. AMD, Canadian cybersecurity company BlackBerry Limited BB and movie theatre chain AMC Entertainment Holdings Inc. AMC.
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Why It Matters: Tesla is seeing high interest on the forum after the company’s market capitalization surpassed $1 trillion last week, thanks to an order from car rental company Hertz Global Holdings Inc. HTZZ for 100,000 electric cars.
Lucid Group continued to be among the most-discussed stocks on the forum after the company confirmed that the first customer deliveries of the Lucid Air Dream Edition vehicles took place on Saturday.
Shares of Mark Zuckerberg-led Meta Platforms, formerly known as Facebook, closed 2.1% higher in Friday’s regular trading session.
It was reported, citing leading Apple Inc. AAPL watcher Mark Gurman, that Meta Platforms’ foray into smartwatches, wearables and mixed reality headsets is setting up the stage for a major clash with Apple.
Price Action: Tesla shares closed 3.4% higher in Friday’s regular trading session at $1,114.00, while SPDR S&P 500 ETF Trust shares closed 0.2% higher at $459.25.
Lucid Group shares closed almost 4.3% higher in Friday’s trading at $36.99.
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