Thu. 23 Sep 2021, 5:28am ETBenzinga
In: Long Ideas, News, Short Ideas, Small Cap, Trading Ideas

SmileDirectClub Inc. (NYSE:SDC) continues to be the most-discussed stock on Reddit’s r/WallStreetBets forum as of Wednesday night, while Lucid Group Inc. (NASDAQ:LCID), BlackBerry Limited (NYSE:BB), TMC the metals company Inc. (NASDAQ:TMC) and SoFi Technologies Inc. (NASDAQ:SOFI) 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 696 mentions as at press time, followed by oral care company SmileDirectClub with 257 mentions, data from Quiver Quantitative showed.

Electric vehicle startup Lucid Group and Canada-based cybersecurity company BlackBerry are in the third and fourth positions, having attracted 228 and 226 mentions, respectively.

Apart from deep sea mining startup TMC the metals company and online personal finance company SoFi Technologies, the other stocks trending on the forum include social media giant Facebook Inc. (NASDAQ:FB), Medicare Advantage insurer Clover Health Investments Corp. (NASDAQ:CLOV), videogame retailer GameStop Corp. (NYSE:GME) and Chinese e-commerce giant Alibaba Group Holding Limited (NYSE:BABA).

See Also: Why SoFi Technologies Stock Is Surging Higher Today

Why It Matters: SmileDirectClub is seen as a short-squeeze candidate by investors on the forum. About 32.6% of the company’s float is held short, according to the latest data from Yahoo! Finance.

Shares of Lucid Group fell on Wednesday after five straight days of gains. The company's Production Preview Week is scheduled to begin on Sept. 27.

BlackBerry emerged among the most-discussed stocks on the forum after the company reported better-than-expected earnings results for the second quarter on Wednesday.

Facebook’s shares fell almost 4% in the regular trading session after the company said in a blog post that it expects the privacy changes made by Apple to its iOS operating system will continue to have a negative impact on advertisers.

Price Action: SPDR S&P 500 ETF Trust’s shares closed almost 1% higher in Wednesday’s regular trading session at $437.86 and further rose almost 0.2% in the after-hours session to $438.59.

SmileDirectClub’s shares closed almost 3.3% lower in the regular trading session at $6.26, but rose 0.8% in the after-hours session to $6.31.

Lucid Group’s shares closed 6.9% lower in the regular trading session at $24.95, but rose 1.2% in the after-hours session to $25.25.

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