Palantir Technologies Inc., Clover Health Corp, Robinhood Markets, Inc. and NVIDIA Corp are among the stocks seeing the highest interest on Reddit’s r/WallStreetBets forum as of Wednesday night.
What Happened: Exchange-traded fund S&P500 ETF Trust continued to be the most-discussed stock on the forum with 976 mentions, followed by data analytics company Palantir Technologies with 289 mentions, data from Quiver Quantitative showed.
Medicare Advantage provider Clover Health and online brokerage Robinhood Markets are in the third and fourth positions, having attracted 259 and 241 mentions, respectively.
Apart from chipmaker Nvidia, the other stocks that are trending on the forum include movie theatre chain AMC Entertainment Holdings Inc.
AMC+0.19%, biotechnology company Pfizer Inc., electric vehicle maker Tesla Motors videogame retailer GameStop Corp. and Canadian cannabis company Tilray Inc.
Why It Matters: Palantir Technologies has emerged as the second-most discussed stock on the forum after it revealed it purchased $50.7 million worth of gold bars in August and has also entered into agreements to buy shares of entities, including SPACs.
Robinhood Markets announced its earnings results for the first time as a public company on Wednesday. The company reported a net loss for the second quarter, while net revenues more than doubled year-over-year.
Nvidia’s shares rose in Wednesday’s extended trading session after the company reported better-than-expected results for the second quarter.
Tilray is seeing high interest from retail investors after the company said it has acquired a majority of the outstanding secured convertible notes of Medmen Enterprises Inc. for about $165.8 million.
Price Action: SPDR S&P 500 ETF Trust shares closed almost 1.1% lower in Wednesday’s regular trading session at $439.18 and further declined less than 0.1% in the after-hours session to $438.84.
Palantir Technologies shares closed almost 5.5% higher in the regular trading session at $25.28 and further rose 0.3% in the after-hours session to $25.36.
Clover Health shares closed almost 1.5% lower in the regular trading session at $8.05, but rose almost 0.3% in the after-hours session to $8.07.