SmileDirectClub, Inc. has emerged as the most-discussed stock onReddit’sr/WallStreetBetsforum as on Wednesday night, while Palantir Technologies Inc. ,Tilray Inc., Affirm Holdings, Inc. and GameStop are also seeing high interest.
What Happened: Exchange-traded fundSPDR S&P 500 ETF Trust is seeing the highest interest on the forum with 745 mentions as at press time, followed by oral care company SmileDirectClub with 414 mentions, data from Quiver Quantitative showed.
Data analytics company Palantir Technologies and cannabis company Tilray are in the third and fourth positions, having attracted 328 and 192 mentions, respectively.
Apart from fintech lender Affirm Holdings and videogame retailer GameStop, the other stocks trending on the forum include e-commerce companyContextLogic Inc., social media giantFacebook, electric vehicle maker Tesla Motors and exchange-traded fund Invesco QQQ Trust.
Why It Matters: SmileDirectClub has emerged as the most-discussed stock on the WSB forum after the company said it would receive a patent from the United States Patent & Trademark Office (USPTO) for the SmileBus concept. Seen as a potential short squeeze candidate by investors on the forum, the company has 32.6% of its float held short, as per the latest data from Yahoo! Finance.
Tilray is seeing high interest on the forum ahead of the release of its first-quarter financial results on Thursday, Oct. 7, before the market open.
Shares of Affirm Holdings gained almost 20% in the regular trading session after retailer Target saidit has added a “buy now pay later” option for customers via Affirm and SEZZLE INC. ahead of the holiday season.
Price Action: SPDR S&P 500 ETF Trust’s shares closed 0.4% higher in Wednesday’s regular trading session at $434.90 and further rose almost 0.3% in the after-hours session to $436.12.
SmileDirectClub shares closed almost 15% higher in the regular trading session at $6.75 but declined almost 0.6% in the after-hours session to $6.71.
Palantir Technologies shares closed almost 1.6% higher in the regular trading session at $23.58 but declined almost 0.2% in the after-hours session to $23.54.
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