Robinhood Remains Top WallStreetBets Interest By Far As Stock Surges 50% — AMD, AMC, Moderna Other Top Trends

Robinhood Remains Top WallStreetBets Interest By Far As Stock Surges 50% — AMD, AMC, Moderna Other Top Trends

Photo: Courtesy of Robinhood

Robinhood Markets Inc. (NASDAQ: HOOD) continues to be the most-discussed stock on Reddit’s r/WallStreetBets forum as of Wednesday night, while Advanced Micro Devices Inc. (NASDAQ: AMD), AMC Entertainment Holdings Inc. (NYSE: AMC), and Moderna Inc. (NASDAQ: MRNA) are also seeing high interest.

What Happened: Online brokerage Robinhood Markets is seeing the highest interest on the forum with 2,063 mentions, while chipmaker Advanced Micro Devices was a distant second with 630 mentions.

Exchange-traded fund S&P SPDR 500 ETF Trust (NYSE: SPY) and movie theatre chain AMC Entertainment are in the third and fourth positions, having attracted 540 and 297 mentions respectively, data from Quiver Quantitative showed.

Apart from biotechnology company Moderna, the other stocks that are trending on the forum include video game retailer GameStop Corp. (NYSE: GME), lithium-ion battery maker Microvast Holdings Inc. (NASDAQ: MVST), online personal finance company SoFi Technologies Inc. (NASDAQ: SOFI), electric vehicle maker Tesla Inc. (NASDAQ: TSLA) and automotive lidar maker MicroVision Inc. (NASDAQ: MVIS).

Why It Matters: Robinhood Markets is seeing high interest from retail investors after the stock extended its rally by surging 50% on Wednesday despite no major news from the company.

It was reported on Wednesday that Cathie Wood-led investment firm Ark Invest purchased 89,622 shares of Robinhood, estimated to be worth about $4.19 million based on Robinhood’s closing price of $46.80 on Tuesday.

Microvast is seeing interest from retail investors amid concerns on the WSB forum about analyst price targets for the stock.

SoFi Technologies’ shares rose on Wednesday amid speculation that the company could be subject to a short squeeze with more than 18% of its shares being held short.

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William K. 1 month ago Member's comment

It may be legitimate, but it smells like a "Pump and Dump" from where I stand.