AMC Entertainment Holdings Inc. (NYSE:AMC) has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of Wednesday night, while GameStop Corp. (NYSE:GME), Dole plc (NYSE:DOLE), Bed Bath & Beyond Inc. (NASDAQ:BBBY) and Tesla Inc. (NASDAQ:TSLA) 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 677 mentions as at press time, while movie theatre chain AMC Entertainment was a distant second with 184 mentions, data from Quiver Quantitative showed.
Videogame retailer GameStop and fruits and vegetables producer Dole are in the third and fourth positions, having attracted 158 and 148 mentions, respectively.
Apart from retailer Bed Bath & Beyond and Tesla, the other stocks trending on the forum include cybersecurity company IronNet Inc. (NYSE:IRNT), oral care company SmileDirectClub Inc. (NYSE:SDC), e-commerce company ContextLogic Inc. (NASDAQ:WISH) and data analytics company Palantir Technologies Inc. (NYSE:PLTR).
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Why It Matters: AMC Entertainment and GameStop are seeing high interest on the forum. AMC Entertainment said it has exercised an option to repurchase $35 million of its first-lien debt that would reduce its annual interest cost by $5.25 million.
In addition, it was reported that #APESNOTLEAVING was a trending hashtag on Twitter, with many tweets referenced speculation that Citadel Securities colluded to limit trading of AMC Entertainment and GameStop.
Dole’s shares rose for the third straight day on Thursday, with retail investors speculating that a fungicide-resistant banana fungus spreading in South America could lead to a supply shortage and boost the agribusiness company’s margins.
Shares of Bed Bath & Beyond fell more than 22% in the regular trading session after the retailer reported worse-than-expected financial results for the second quarter and also issued third-quarter guidance below estimates.
Price Action: SPDR S&P 500 ETF Trust’s shares closed 1.2% lower in Thursday’s trading at $429.14, but rose 0.2% in the after-hours session to $430.05.
AMC Entertainment shares closed almost 7.1% higher in the regular trading session at $38.06 and further rose almost 2.8% in the after-hours session to $39.12.
GameStop’s shares closed almost 0.3% lower in the regular trading session at $175.47, but rose 1.4% in the after-hours session to $178.00.
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