Video game retailer GameStop Corp. Stock (NYSE:GME) has emerged as the most discussed stock in the r/WallStreetBets forum on Reddit as of early Friday.
What happenedGameStop has seen the highest interest in the forum with 1,189 references as of the time of writing, while ETFs SPDR S&P 500 ETF Trust (NYSE:SPY) was a distant second with 502 mentioned, data from Quiver Quantitative showed.
electric car maker Tesla Corporation (NASDAQ: TSLA) and movie theater chain AMC Entertainment Holdings Inc. (NYSE:AMC) is in third and fourth place, having attracted 233 and 174 signals, respectively.
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why does it matter: GameStop shares are up more than 22% in the extended trading session Thursday.
The company is launching a division to develop a market for Irreplaceable icons (NFTs) and entering into partnerships with two cryptocurrency companies, it is reported, citing the Wall Street Journal.
The move – which comes as GameStop tries to transform its core video game business and also confirmed earlier speculation – has been welcomed by retail investors, who have been very excited about it. Bitcoin (CRYPTO: BTC) and other cryptocurrencies.
AMC Entertainment, another Reddit stock favorite, entered the NFT space in 2021 with Spider Man The themed NFTs coincide with the December issue of “Spider-Man: No Way Home.”
price movement: GameStop shares closed nearly 1.3% higher in the regular trading session on Thursday at $131.03 and were also up 22.5% in after-hours trading to $160.50.
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Photo: Courtesy of EPIC via Wikimedia