Exchange-traded fund SPDR S&P 500 ETF Trust SPY is the most discussed name on Reddit retail investor forum r/WallStreetBets followed by GameStop Corporation GME and Tesla Inc TSLA leading into Tuesday.
What Happened: SPY attracted 613 mentions, while the video game-retailer GameStop and automaker Tesla mentions amounted to 569 and 469, respectively, as per Quiver Quantitative data.
Other highly mentioned stocks included Ocugen Inc OCGN, Zillow Group Inc Z, Bed Bath & Beyond Inc BBBY, and AMC Entertainment Holdings Inc AMC.
Biopharmaceutical firm Ocugen, real estate company Zillow, and domestic goods retailer Bed Bath & Beyond received 374, 196, and 188 mentions, respectively, on the forum. Cinema chain AMC got 148 mentions.
Other notable mentioned stocks include BlackBerry Ltd BB and Robinhood Markets Inc HOOD.
See Also: How To Buy GameStop (GME) Shares
Why It Matters: On Wednesday, Bed Bath & Beyond shares rose after it announced a strategic collaboration with The Kroger Co KR to offer the latter’s customers a selection of goods geared at home and infants. GameStop and AMC shares traded higher in sympathy with Bed Bath & Beyond.
Ocugen, the U.S. partner of India’s Bharat Biotech got a boost as the latter’s COVID-19 vaccine, Covaxin, was recommended for emergency use status by the World Health Organization’s Advisory Group.
On Wednesday, Zillow shares plunged after the firm declared a third-quarter loss per share of $0.95 missing consensus analyst estimates of $0.16 earnings per share. Revenues came in at $1.74 billion and missed the $2.01 billion estimate.
The company plans to wind down its home-buying arm Offers and will lay off 25% of its workforce. Bloomberg reported earlier that Zillow has sold 7,000 homes from its inventory.
Read Next: New Poll Results: Should AMC Theatres Support Shiba Inu Payment Option For Ticket Purchases?
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
