U.S. stocks rose on Tuesday, reflecting gains by battered technology stocks amid a fall in bond yields. Stocks that were inspired by the Reddit community r/WallStreetBets in January also rallied.
Heading into the pre-market session on Wednesday, here is a look at the ten most talked about stocks on the subreddit as of press time, based on r/WallStreetBets analytics data.
GameStop Corp.(NYSE:GME):Shares of the video game retailer gained 26.9% on Tuesday to $246.90, rising for the sixth straight day. GameStop said Monday its board has constituted a committee led by activist investor and board member Ryan Cohen to re-evaluate its e-commerce plans. Speculation is also rife that small investors will invest funds from upcoming stimulus checks into the equity markets.
SPDR S&P 500 ETF Trust(NYSE:SPY): The exchange-traded fund trades on the NYSE Arca and is the largest ETF in the world and has been a top WSB interest in the recent months.
Tesla Inc.(NASDAQ:TSLA):Shares of the electric vehicle maker rebounded from a steep selloff and rose 19.6% on Tuesday to $110.58 for its biggest jump in more than a year. Tesla reported a month-over-month increase in deliveries in China for February despite the Lunar New Year holidays. In addition, Tesla and its battery supplier LG Energy Solutions are reportedly in talks to make the automaker’s latest advanced batter in the U.S. and Europe.
AMC Entertainment Holdings Inc. (NYSE:AMC): The movie theatre chain’s shares climbed more than 13% on Tuesday to $10.50, rising for the third straight day. The company will report its financial results for the fourth quarter after the market close on Wednesday.
Palantir Technologies Inc. (NYSE:PLTR): The data-analytics company’s share rose 7.7% on Tuesday. The company said it will hold the first in a series of “Double Click” software demo events on April 14 to showcase how its platforms are used across these industries and customers.
Rocket Companies Inc.(NYSE:RKT): The real-estate services company’s shares rose 3.2% on Tuesday to $25.49, ending a four-day losing streak. While reporting its fourth-quarter results in late February, Rocket Companies declared a special dividend of $1.11 per share payable on March 23, 2021, with the record date set at the close of business on Tuesday, March 9. Meanwhile, Morgan Stanley maintained its equal-weight rating on the company and raised its price target to $24.
BlackBerry Limited(NYSE:BB): Shares of BlackBerry rose 7.2% on Tuesday to close at $10.45. The company announced new technology advancements to BlackBerry AtHoc that will improve how U.S. Federal agencies communicate during times of crisis and reduce the risk of unauthorized access to Federal data. The company alsosaidit has teamed up with Desay SV Automotive to launch a dual-screen virtual smart cabin domain controller to enable safer driving.
NIO Limited(NYSE:NIO): Nio’s shares rose 17.4% to $41.35 after it was reported by Reuters that the company and two other U.S.-listed Chinese electric vehicle makers are planning for a secondary listing in Hong Kong as soon as this year.
Apple Inc.(NYSE:AAPL): Shares of the iPhone maker added more than 4% to $121.08. It was reported on Tuesday that Apple could now launch the long-rumored AirTags and the new iPad Pro models at an event to be held on March 23.
Walt Disney Company(NYSE:DIS):Shares of Disney fell 3.7% to $194.51 on Tuesday despite the company saying that its Disney+ streaming service, which was launched in November 2019, passed the 100 million mark for subscribers.
