Heading into a new trading week, $Square, INC.(SQ.US)$ and $Advanced Micro Devices Inc(AMD.US)$ are among the stocks seeing the highest interest on Reddit’s r/WallStreetBets forum.
What Happened
Exchange-traded fund $SPDR S&P 500 ETF(SPY.US)$ was the most discussed stock on the forum with 181 mentions, fintech firm Square with 56 mentions during the last 24 hours, data from Quiver Quantitative showed.
Chipmaker Advanced Micro Devices is in the fourth position, having attracted 47 and 46 mentions on the forum respectively.
The other stocks that are trending on the forum include Chinese e-commerce giant $Alibaba Group Holding Ltd(BABA.US)$, video game retailer $GameStop Corp(GME.US)$, medical insurance technology company $CLOVER HEALTH INVESTMENTS CORP(CLOV.US)$, movie theatre chain $AMC Entertainment Holdings Inc(AMC.US)$, e-commerce giant $Amazon.Com Inc(AMZN.US)$ and electric vehicle maker $Tesla, Inc.(TSLA.US)$.
Why It Matters
Jack Dorsey-led $Square, INC.(SQ.US)$ said on Sunday it has agreed to acquire the Australia-based ‘buy now, pay later’ platform Afterpay Ltd. for about $29 billion in stock. The company also reported a turnaround to profit in the second quarter with earnings per share of $0.40, while revenue surged 143% year-over-year to $4.68 billion. While the earnings per share beat analysts’ estimates, revenue missed their expectations.
Shares of $Advanced Micro Devices Inc(AMD.US)$ saw unusual options activity on Friday. The company reported better-than-expected second-quarter results last week.
Price Action
SPDR S&P 500 ETF Trust shares closed almost 0.5% lower in Friday’s regular trading session at $438.51.
Square shares closed 3.1% lower in Friday’s trading at $247.26.
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