Fri. 22 Oct 2021, 6:01am ETBenzinga
In: Long Ideas, News, Short Ideas, Small Cap, Trading Ideas

Snap Inc. (NYSE:SNAP) has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of Thursday night, while Tesla Inc. (NASDAQ:TSLA), Digital World Acquisition Corp. (NASDAQ:DWAC), Facebook Inc. (NASDAQ:FB) and PayPal Holdings Inc. (NASDAQ:PYPL)  are also seeing high interest.

What Happened: Snapchat parent Snap is seeing the highest interest on the forum with 513 mentions as at press time, followed by exchange-traded fund SPDR S&P 500 ETF Trust (NYSE:SPY) with 497 mentions, data from Quiver Quantitative showed.

Electric vehicle maker Tesla and special purpose acquisition (SPAC) company Digital World Acquisition are in the third and fourth positions, having attracted 445 and 279 mentions, respectively.

Apart from social media giant Facebook and financial technology company PayPal, the other stocks trending on the forum include chipmaker Advanced Micro Devices Inc. (NASDAQ:AMD), Intel Corp. (NASDAQ:INTC), Canadian cybersecurity company BlackBerry Inc. (NYSE:BB) and videogame retailer GameStop Corp. (NYSE:GME).

See Also: What Will Be Facebook's New Name? Here Are The Betting Odds

Why It Matters: Snap is seeing high interest on the forum after the company reported third-quarter earnings that beat analysts’ expectations while revenues missed estimates.

Snap said its ad business was disrupted by changes to iOS ad tracking that were rolled out by Apple Inc. (NASDAQ:AAPL) earlier this year.

Tesla continues to be among the most-discussed stocks on the forum after the Elon Musk-led company on Wednesday reported third-quarter financial results that beat analysts’ estimates.

Shares of Digital World Acquisition skyrocketed on Thursday after the company announced a planned merger with Trump Media & Technology Group that would launch former President Donald Trump’s own social media platform.

Intel on Thursday reported third-quarter earnings that beat analysts’ expectations, while revenue missed estimates.

Price Action: Snap shares closed 0.7% lower in Thursday’s regular trading session at $75.11 and further fell almost 21.6% in the after-hours session to $58.90.

SPDR S&P 500 ETF Trust’s shares closed almost 0.3% higher in the regular trading session at $453.59, but fell 0.2% in the after-hours session to $452.54.

Tesla shares closed almost 3.3% higher in the regular trading session at $894.00, but fell almost 0.6% in the after-hours session to $888.88.

Read Next: 7 Key Takeaways From The Donald Trump SPAC Deal

Photo: Courtesy of Gage Skidmore via Wikimedia