Tesla Inc. TSLA continues to be the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Tuesday, while Advanced Micro Devices Inc. AMD, PayPal Holdings Inc. PYPL, SmileDirectClub Inc. SDC and AMC Entertainment Holdings Inc. AMC are also seeing high interest.
What Happened: Electric vehicle maker Tesla is seeing the highest interest on the forum with 832 mentions, followed by exchange-traded fund SPDR S&P 500 ETF Trust SPY with 565 mentions.
Chipmaker Advanced Micro Devices and payment company PayPal are in the third and fourth positions, having attracted 530 and 267 mentions, respectively.
Apart from orthodontics company SmileDirectClub and movie theatre chain AMC Entertainment, the other stocks trending on the forum include videogame retailer GameStop Corp. GME, graphics chipmaker Nvidia Corp. NVDA, electric vehicle maker Lucid Group Inc. LCID and cannabis company Tilray Inc. TLRY.
Why It Matters: Tesla’s shares fell almost 5% in Monday’s regular trading session after a majority of the Twitter users who participated in CEO Elon Musk’s poll over the weekend said the billionaire should sell 10% of his company stock.
Advanced Micro Devices is seeing high interest on the forum after the company said it has won Facebook Inc. FB as its customer. The company also announced a range of new chips aimed at taking on rival Nvidia.
PayPal’s shares closed more than 5% lower in Monday’s after-hours session after the company reported better-than-expected earnings for the third quarter even as its revenue missed analysts’ expectations.
AMC Entertainment reported a narrower-than-expected loss for the third quarter, while revenue beat analysts' estimates.
Price Action: Tesla shares closed 4.8% lower in Monday’s regular trading session at $1,162.94 and further lost 1.1% in the after-hours session to $1,150.35.
SPDR S&P 500 ETF Trust shares closed almost 0.1% higher in the regular trading session at $468.93, but fell almost 0.3% in the after-hours session to $467.77.
Advanced Micro Devices shares closed 10.1% higher in the regular trading session at $150.16 and further rose almost 0.6% in the after-hours session to $151.00.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.