Clover Health Corp, AMC Entertainment Holdings Inc., Alibaba Group Holding Ltd. and ContextLogic Inc. are among the stocksseeing the highest intereston Reddit’sr/WallStreetBetsforum as of Tuesday night.
What Happened: Exchange-traded fund S&P500 ETF Trust is the most-discussed stock on the forum with 1,007 mentions, while Medicare Advantage provider Clover Health was a distant second with 236 mentions, data from Quiver Quantitative showed.
Movie theatre chain AMC Entertainment and Chinese e-commerce giant Alibaba are in the third and fourth positions, having attracted 232 and 199 mentions respectively.
In addition to the Wish e-commerce platform operator ContextLogic, the other stocks that are trending on the forum include electric vehicle maker Tesla Motors, biotechnology company Pfizer, videogame retailer GameStop, biotechnology company Moderna, Inc. and software company Palantir Technologies Inc..
Why It Matters: Clover Health continues to see high interest on the forum after a post had noted earlier this week that the stock is ripe for a major squeeze beginning next week.
Shares of Alibaba and other U.S.-listed Chinese technology stocks fell on Tuesday after it was reported that China's State Administration for Market Regulation launched a list of new rules that could impact how companies collect user data.
Pfizer’s shares rose on Tuesday. A WSB member explained on the forum why he was very bullish on the company and most analysts have its valuation “massively wrong.” The post had 83% upvotes.
Moderna’s shares rebounded on Tuesday after it was reported that the UK drug regulator expanded the authorization given to the company’s COVID-19 vaccine to include the adolescent population.
Price Action: SPDR S&P 500 ETF Trust shares closed almost 0.7% lower in Tuesday’s regular trading session at $444.04 and further declined 0.2% in the after-hours session to $442.99.
Clover Health shares closed almost 3.8% lower in the regular trading session at $8.17, but rose 0.6% in the after-hours session to $8.22.
AMC Entertainment shares closed 4.1% higher in the regular trading session at $37.16, but declined less than 0.1% in the after-hours session to $37.14.