Heading into a new trading week, Pfizer Inc. (NYSE: PFE), Alibaba Group Holding Limited (NYSE: BABA), Nvidia Corp. (NASDAQ: NVDA) and Moderna Inc. (NASDAQ: MRNA) are among the stocks seeing the highest interest on Reddit’s r/WallStreetBets forum.
What Happened: Pfizer has emerged as the most-discussed stock on the forum with 106 mentions, followed by exchange-traded fund SPDR S&P 500 ETF Trust (NYSE: SPY) with 102 mentions, data from Quiver Quantitative showed.
Chinese e-commerce giant Alibaba and chipmaker Nvidia are in the third and fourth positions, having attracted 62 and 34 mentions respectively.
Apart from biotechnology company Moderna, the other stocks that are trending on the forum include data analytics company Palantir Technologies Inc. (NYSE: PLTR), Wish e-commerce platform operator ContextLogic Inc. (NASDAQ: WISH), videogame retailer GameStop Corp. (NYSE: GME), electric vehicle maker Tesla Inc. (NASDAQ: TSLA) and Medicare Advantage provider Clover Health Investments Corp. (NASDAQ: CLOV).
Why It Matters: Pfizer is seeing high interest on the Reddit forum after the New York Times reported that the U.S. Food and Drug Administration could grant full approval for the COVID-19 vaccine developed by Pfizer and its German partner BioNTech SE (NASDAQ: BNTX) on Monday.
Shares of Alibaba fell for the eighth straight day on Friday. It was reported that just before trading closed for the weekend, an institution purchased a whopping $611.71 million worth of the company’s common shares.
Nvidia is attracting interest from retail investors after it was reported, citing Reuters, that the UK’s Competition and Market’s Authority (CMA) expressed potential anticompetitive concerns regarding Nvidia’s acquisition of British chip designer Arm Ltd.
A WSB member explained in a post on the forum why he expects Palantir Technologies to be the “next trillion dollar market cap stock.” The post had 84% upvotes.
Price Action: Pfizer shares closed almost 0.2% lower in Friday’s trading at $48.72, while SPDR S&P 500 ETF Trust shares closed 0.8% higher at $443.36.
Alibaba shares closed 1.6% lower in the Friday’s trading at $157.96.
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