Heading into a new trading week,GameStop Corp.,Cameco Corp.,Apple Inc.,Tesla Inc. and AMCEntertainment Holdings Inc. are among the stocks seeing the highest interest on Reddit’s r/WallStreetBets forum.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust is seeing the highest interest on the forum with 125 mentions as at press time, followed by videogame retailer GameStop and uranium producer Cameco with 35 mentions each, data from Quiver Quantitative showed.
Tech giant Apple and electric vehicle maker Tesla attracted 31 and 19 mentions, respectively.
Apart from movie theatre chain AMC Entertainment, the other stocks that are trending on the forum include Medicare Advantage provider Clover Health Investments Corp., Canada-based cybersecurity provider BlackBerry Limited and technology-based personal insurance company Root Inc..
In addition to these stocks, investors are looking ahead to the release of the Consumer Price Index (CPI) data for August from the Bureau of Labor Statistics on Tuesday.
Why It Matters: Cameco’s shares gained more than 6% in Friday’s trading and also touched a new 52-week high of $25.08, reflecting rising uranium prices and brightening prospects for the uranium industry.
Apple is seeing high interest on the WSB forum ahead of its first hardware unveiling this year, dubbed “California Streaming,” to be held on Sept. 14.
Meanwhile, Apple’s shares were also hit on Friday by a ruling issued by a U.S. judge on the antitrust lawsuit brought by “Fortnite” games developer Epic Games. The judge said Apple's conduct is anti-competitive, but did not find the company to be an antitrust monopolist.
Price Action: SPDR S&P 500 ETF Trust shares closed almost 0.8% lower in Friday’s trading at $445.44, while GameStop’s shares closed 4.4% lower at $190.41.
Cameco’s shares closed almost 6.5% higher in Friday’s trading at $24.43.
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