SmileDirectClub Inc. (NYSE:SDC) continues to be the most-discussed stock on Reddit’s r/WallStreetBets forum as of Tuesday night, while Lucid Group Inc. (NASDAQ:LCID), IronNet Inc. (NYSE:IRNT), GameStop Corp. (NYSE:GME) and Upstart Holdings Inc. (NASDAQ:UPST) are also seeing high interest.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust (NYSE:SPY) is seeing the highest interest on the forum with 835 mentions as at press time, followed by oral care company SmileDirectClub with 321 mentions, data from Quiver Quantitative showed.
While Tesla Inc. (NASDAQ:TSLA) has fallen out of the top-10 stocks on the forum, rival electric vehicle startup Lucid is in the third spot having attracted 291 mentions in 24 hours. Cybersecurity company IronNet is at the fourth position, with 157 mentions.
Apart from videogame retailer GameStop and consumer lending platform Upstart, the other stocks trending on the forum include deep sea mining starup TMC the metals company Inc. (NASDAQ:TMC), exchange traded fund Direxion Daily FTSE China Bear 3X Shares (NYSE:YANG), movie theatre chain AMC Entertainment Holdings Inc. (NYSE:AMC) and Chinese e-commerce giant Alibaba Group Holding Limited (NYSE:BABA).
Why It Matters: SmileDirectClub is seeing high interest on the forum after the company announced plans to launch in France in the fourth quarter of this year. About 32.6% of the company’s float is held short, according to the latest data from Yahoo! Finance.
Shares of Lucid Group extended gains to a fifth straight day on Tuesday ahead of the company's Production Preview Week scheduled to begin on Sept. 27. Among other events during the week, guests will be able to observe the production processes for the Lucid Air luxury sedan at the company’s factory in Arizona.
Upstart’s shares touched a new 52-week high in intraday trading on Tuesday after WSFS Financial Corp. (NASDAQ:WSFS) said it has launched a digital personal loans product powered by Upstart.
Price Action: SPDR S&P 500 ETF Trust’s shares closed almost 0.1% lower in Tuesday’s trading at $433.63 and further declined almost 0.3% in the after-hours session to $432.52.
SmileDirectClub’s shares closed 0.3% lower in the regular trading session at $6.47 and further declined more than 2% in the after-hours session to $6.34.
Lucid Group’s shares closed 11.4% higher in the regular trading session at $26.81, but declined 1.5% in the after-hours session to $26.81.
Photo: Courtesy of The Focal Project via Flickr