Clover Health Investments Corp. (NASDAQ: CLOV) has joined AMC Entertainment Holdings Inc. (NYSE: AMC) and SoFi Technologies Inc. (NASDAQ: SOFI) among the stocks seeing the highest interest on Reddit’s r/WallStreetBets forum, while SPDR S&P 500 ETF Trust (NYSE: SPY) remained the most-discussed stock on the forum, as of Wednesday night.
What Happened: Exchange-traded fund SPDR S& 500 ETF is seeing the highest interest on the forum with 698 mentions, followed by medical insurance technology company Clover Health with 576 mentions during the last 24 hours, data from Quiver Quantitative showed.
Movie theatre chain AMC Entertainment and online personal finance company SoFi Technologies took the third and fourth spots with 320 and 279 mentions, respectively.
The other stocks that are trending on the forum include video game retailer GameStop Corp. (NYSE: GME), graphics chipmaker Nvidia Corp. (NASDAQ: NVDA), steelmaker Cleveland-Cliffs Inc. (NYSE: CLF), biotechnology company Moderna Inc. (NASDAQ: MRNA), Canada-based cybersecurity company BlackBerry Ltd. (NYSE: BB) and tech giant Apple Inc. (NASDAQ: AAPL).
Why It Matters: Clover Health is again seeing high interest from retail investors as its shares surged on Wednesday. The company said it will report second-quarter financial results on August 11, while a regulatory filing late Tuesday showed that its COO Jamie Reynoso received 220,820 shares as part of a restricted stock units (RSU) award.
SoFi Technologies’ shares rallied almost 10% on Wednesday amid increased retail interest, while institutions were also hammering call contracts.
Cleveland-Cliffs has emerged among the most-discussed stocks on the WSB forum ahead of the release of its second-quarter financial results before the market opens on Thursday.
Price Action: SPDR S&P 500 ETF Trust shares closed 0.8% higher in Wednesday’s regular trading session at $434.55 and further rose almost 0.1% in the after-hours session to $434.94.
Clover Health shares closed almost 6.4% higher in the regular trading session at $8.88 and further gained 5.5% in the after-hours session to $9.37.
AMC Entertainment shares closed almost 5.4% lower in the regular trading session at $40.78 and further declined 0.6% in the after-hours session to $40.53.
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