Electric vehicle maker Tesla Inc. (NASDAQ:TSLA) has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Wednesday.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust (NYSE:SPY) is seeing the highest interest on the forum with 528 mentions as at press time, followed by Tesla with 289 mentions, data from Quiver Quantitative showed.
Videogame retailer GameStop Corp. (NYSE:GME) and movie theatre chain AMC Entertainment Holdings Inc. (NYSE:AMC) are in the third and fourth positions, having attracted 272 and 215 mentions, respectively.
See Also: How To Buy Tesla (TSLA) Stock
Why It Matters: Tesla CEO Elon Musk said in a tweet that the company would make some merchandise buyable with Dogecoin (CRYPTO: DOGE) and see how it goes. The move could eventually lead to the EV maker accepting Doge for vehicle purchase.
Musk is a big proponent of Dogecoin and his tweets sometimes have an overwhelming impact on the price of the meme cryptocurrency.
It was also reported that Musk has been named as Time Magazine's 2021 Person of the Year.
Shares of GameStop and AMC surged in Tuesday’s regular trading session, rebounding from the sharp losses in the previous session.
A post on the forum noted a report by Barron’s that said retail investors are buying the dip in the two Reddit-favorite stocks.
Price Action: Tesla’s shares closed 0.8% lower in Tuesday’s regular trading session at $958.51 and further lost 0.5% in the after-hours session to $953.34.
Read Next: Ford Has Sights Set On Eventually Toppling Tesla As The No. 1 EV Maker
