Electric vehicle maker Tesla Inc. has emerged as the most-discussed stock onReddit’s r/WallStreetBets forum as of early Tuesday.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust is seeing the highest interest on the forum with 584 mentions as at press time, followed by Tesla with 343 mentions, data from Quiver Quantitative showed.
Graphics chipmaker Nvidia Corp. and videogame retailer GameStop Corp. are in the third and fourth positions, having attracted 202 and 173 mentions respectively.
Why It Matters: Tesla’s shares had dropped into bear market territory on Monday following news of a new probe into the company’s solar panels by the U.S. Securities and Exchange Commission.
Aposton the forum noted that electric vehicle makers Tesla and Lucid Group Inc. are facing investigations by the SEC at the same time.
It was also reported on Monday that Tesla’s vehicle sales rose 234% in Germany during the month of November, even as issues have delayed the Gigafactory Berlin multiple times.
At The Wall Street Journal’s Annual CEO Council Monday, Tesla CEO Elon Musk said he was not keen on the Biden administration’s infrastructure bill and called the federal budget deficit “insane.”
Price Action: Tesla shares closed almost 0.6% lower in Monday’s regular trading session at $1,009.01.
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