Benzinga - by Adam Eckert, Benzinga Staff Writer.
Tesla Inc (NASDAQ: TSLA), Nvidia Corp (NASDAQ: NVDA) and Apple Inc (NASDAQ: AAPL) are seeing the most chatter on WallStreetBets Wednesday, but they aren't the only names on retail traders' radars this week.
What To Know: Founded in 2012, Reddit's r/wallstreetbets soared in popularity at the beginning of 2021 as retail traders flocked to the subreddit to discuss potential short squeeze opportunities in stocks such as GameStop Corp (NYSE: GME) and AMC Entertainment Inc (NYSE: AMC).
Although the hype around those names has largely dried up, daily data from the forum can provide valuable insights about stocks traders are targeting.
Here's a look at the most mentioned stocks on WallStreetBets over the last 24 hours, per data from Swaggy Stocks.
Tesla: Tesla is the top trending name on Wednesday. Shares were up 2.02% at $271.88 at last check. Tesla has long been a favorite name among the retail crowd partly due to its high implied volatility, but also because of CEO Elon Musk, who often posts updates on X, communicating directly with shareholders.
Nvidia: Although well behind Tesla in mentions, Nvidia is number two on the list. Nvidia has been the biggest beneficiary of the AI-fueled rally that has taken place this year. The chipmaker appears to be well ahead of the competition and its stock price is reflecting such, having nearly tripled year-to-date. Nvidia shares were down 0.81% at $431.66 Wednesday afternoon.
Apple: Apple is not far behind Nvidia on the list. The company held its annual product launch event last week and Apple is reportedly seeing strong early demand for its new iPhone 15. The new devices are already available for pre-order and availability starts at the end of the week. Apple shares were down 0.9% at $177.45 at the time of writing.
Arm: Arm Holdings Plc (NASDAQ: ARM) is the next name on the list. The company made its public debut last Thursday in what was the biggest IPO of the year. Several big-name companies purchased shares of the company including Nvidia and Apple. Arm shares have trended lower since going public. The stock was last down 3.75% at $53.10.
Nio: NIO Inc - ADR (NYSE: NIO) rounds out the top five. Shares are rising Wednesday, bouncing back after tumbling earlier this week on the heels of a proposed offering. Shares of the China-based EV maker were last up 3.33% at $8.84.
Other stocks capturing the attention of retail traders on Wednesday include
C3.Ai Inc (NYSE: AI),
Walt Disney Co (NYSE: DIS) and
Intel Corporation (NASDAQ: INTC).
"Dumb Money," a theatrical release depicting the historic GameStop short squeeze features several posts on WallStreetBets that helped spark what became a retail movement. The movie hit theaters last week and is slated for national expansion on Friday.
Related Link: Ken Griffin Doesn't Want You To See 'Dumb Money' Movie, Screenwriters Say That's Why You Should
Photo: Sergei Tokmakov from Pixabay
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