Advanced Micro Devices Inc.(NASDAQ:AMD),Tesla Inc.(NASDAQ:TSLA) and Square Inc.(NYSE:SQ) areamongthe stocks seeing the highest interest on Reddit’s r/WallStreetBets forum as of Monday night.
What Happened: Exchange-traded fund S&P SPDR 500 ETF Trust(NYSE:SPY) remained the most discussed stock on the forum with 713 mentions, followed by chipmaker Advanced Micro Devices with 289 mentions during the last 24 hours, data from Quiver Quantitative showed.
Electric vehicle maker Tesla and fintech firm Square are in the third and fourth positions, having attracted 275 and 228 mentions on the forum respectively.
The other stocks that are trending on the forum include video game retailer GameStop Corp. (NYSE:GME), gaming equipment maker Corsair Gaming Inc.(NASDAQ:CRSR), online brokerage Robinhood Markets Inc.(NASDAQ:HOOD), movie theatre chain AMC Entertainment Holdings Inc.(NYSE:AMC), medical insurance technology company Clover Health Investments Corp.(NASDAQ:CLOV) and Chinese e-commerce giant Alibaba Group Holding Ltd.(NYSE:BABA).
Why It Matters: Shares of Advanced Micro Devices and Tesla were among the top gainers on the Nasdaq on Monday. AMD’s shares rose for the fifth straight day on Monday after itannouncedbetter-than-expected second-quarter results last week.
It was reported on Monday that Robinhood Markets CEO Vladimir Tenev acquired a total of 4.01 million shares in the company and also disposed of a total of 3.24 million shares at an average price of $37.38.
A post on the WSB forum asking whether the sale of shares by Tenev and other company insiders was a sign that they don’t believe in the company had 91% upvotes at press time.
Jack Dorsey-led Square is continuing to see interest from retail investors after the company’s stock surged on Monday and may have caused short sellers to cover their positions. About 8.1% of the company’s shares are held short, which equates to 31.75 million shares.
Price Action: SPDR S&P 500 ETF Trust shares closed 0.2% lower in Monday’s regular trading session at $437.59, but rose 0.1% in the after-hours session to $438.17.
Advanced Micro Devices shares closed 2.3% higher in the regular trading session at $108.63, but declined 0.1% in the after-hours session to $108.50.
Tesla shares closed almost 3.3% higher in the regular trading session at $709.67 and further rose almost 0.8% in the after-hours session to $715.00.