Clover Health Investments Corp. (NASDAQ: CLOV), AMC Entertainment Holdings Inc. (NYSE: AMC), Alibaba Group Holding Ltd. (NYSE: BABA) and ContextLogic Inc. (NASDAQ: WISH) are among the stocks seeing the highest interest on Reddit’s r/WallStreetBets forum as of Tuesday night.
What Happened: Exchange-traded fund S&P SPDR 500 ETF Trust (NYSE: SPY) is the most-discussed stock on the forum with 1,007 mentions, while Medicare Advantage provider Clover Health was a distant second with 236 mentions, data from Quiver Quantitative showed.
Movie theatre chain AMC Entertainment and Chinese e-commerce giant Alibaba are in the third and fourth positions, having attracted 232 and 199 mentions respectively.
In addition to the Wish e-commerce platform operator ContextLogic, the other stocks that are trending on the forum include electric vehicle maker Tesla Inc. (NASDAQ: TSLA), biotechnology company Pfizer Inc. (NYSE: PFE), videogame retailer GameStop Corp. (NYSE: GME), biotechnology company Moderna Inc. (NASDAQ: MRNA) and software company Palantir Technologies Inc. (NYSE: PLTR).
See Also: Palantir’s Unusual Investments In SPACs And Gold: What You Need To Know
Why It Matters: Clover Health continues to see high interest on the forum after a post had noted earlier this week that the stock is ripe for a major squeeze beginning next week.
Shares of Alibaba and other U.S.-listed Chinese technology stocks fell on Tuesday after it was reported that China’s State Administration for Market Regulation launched a list of new rules that could impact how companies collect user data.
See also: HOW TO BUY CLOVER HEALTH (CLOV) STOCK
Pfizer’s shares rose on Tuesday. A WSB member explained on the forum why he was very bullish on the companya and most analysts have its valuation “massively wrong.” The post had 83% upvotes.
Moderna’s shares rebounded on Tuesday after it was reported that the UK drug regulator expanded the authorization given to the company’s COVID-19 vaccine to include the adolescent population.
Price Action: SPDR S&P 500 ETF Trust shares closed almost 0.7% lower in Tuesday’s regular trading session at $444.04 and further declined 0.2% in the after-hours session to $442.99.
Clover Health shares closed almost 3.8% lower in the regular trading session at $8.17, but rose 0.6% in the after-hours session to $8.22.
AMC Entertainment shares closed 4.1% higher in the regular trading session at $37.16, but declined less than 0.1% in the after-hours session to $37.14.
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