NVIDIA, the hottest stock, surged overnight but fell back, from a rise of over 1% to a 2.5% drop at the close, failing to break through the previous high. The main reasons for the current market bearishness are: 1) the stock price has risen too much, releasing the growth expectations for the next one or two years; 2) customer concentration, with Microsoft, Meta, Amazon, Google, etc., accounting for one-third of NVIDIA's revenue. If these giants focus on chip development, it may have an impact; 3) competition from AMD, Intel, and other competitors. However, most bearish analysts have not denied NVIDIA's rapid growth in performance.
Reddit, the second hottest stock, hit a new high overnight, rising to $74.9 at one point (IPO price was $34), with the significant influence of its WallStreetBets channel with 15 million members:
<img src="https://pub.pbkrs.com/cms/2024/0/kDg3c2AsUbxmXAdPsxac1ZPvTPBkFHu2.jpg?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/cms/2024/0/kDg3c2AsUbxmXAdPsxac1ZPvTPBkFHu2.jpg"/>
AI newcomer ALAB, which has already doubled, surged overnight but fell back, with an intraday volatility of 20%, and its market value dropped to $12.7 billion;
Trump-related stock DWAC (merged and listed overnight, code changed to DJT) surged more than 50% intraday, but closed down to 16%, with a pre-market increase of around 13%. The company's stock price fluctuates mainly based on enthusiasm, but enthusiasm can come and go quickly, leading to significant fluctuations and requiring attention to risks;
Another Trump-related stock, RUM, ranked 14th in popularity, surged 15.4% overnight. It is understood that RUM is one of DJT's largest cloud partners and one of the largest advertising distributors;
Concept stocks are as follows:
<img src="https://pub.pbkrs.com/cms/2024/0/pe9hNbkCVxw2vparJR1PtYn7hFH56ues.jpg?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/cms/2024/0/pe9hNbkCVxw2vparJR1PtYn7hFH56ues.jpg"/>
Tesla, the fifth hottest stock, surged nearly 7% overnight mainly because Musk announced new developments in autonomous driving, but the closing gain fell to 2.9%;
US stock broker Robinhood, the sixth hottest stock, launched its credit card business, surging 7% pre-market. Robinhood has over 20 million funded accounts, but the revenue contribution per customer is low. The credit card business is one of its important monetization methods, hence the stock price increase;
In other chip stocks, AMD, TSMC, and SMCI rose slightly pre-market;
Micron Technology (MU), ranked 15th in popularity, rose against the trend overnight along with Western Digital (WDC). Storage chip stocks have performed well recently, mainly driven by Micron Technology's financial report. The report shows that demand for storage chips has significantly increased due to the AI revolution, with South Korea's SK Hynix rising nearly 10% over the past few trading days;
Dessert company Krispy Kreme (DNUT), ranked 10th in popularity, surged nearly 40% overnight and announced a collaboration with McDonald's;
GameStop (GME), ranked 16th in popularity, underperformed expectations, plunging 18% pre-market, after a Reddit-led surge in the previous two days, resulting in an 18% cumulative increase.
<img src="https://pub.pbkrs.com/cms/2024/0/EbLgrC6cJmkkdwSwDKReFJKCKfLuPBJX.jpg?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/cms/2024/0/EbLgrC6cJmkkdwSwDKReFJKCKfLuPBJX.jpg"/>
Data Source: apewisdom, the most discussed stocks in the past 24 hours
Note:
The Wall Street Bets channel (WSB for short) on Reddit was created in 2012. This investment community has attracted more than 15 million users and is a gathering place for retail investors to discuss US stocks. The stocks discussed in this channel are often the hottest stocks at the moment. Due to the channel's influence, it may lead to price fluctuations.
Risk Warning:
Stocks discussed in WSB are often favored or abandoned by retail investors, especially for small companies (such as GameStop GME and AMC in 2021), which may experience significant volatility. Please be aware of the risks

AI newcomer ALAB, which has already doubled, surged overnight before falling back, with an intraday volatility of 20%, bringing its market value down to $12.7 billion

LB Select

Reddit

Astera Labs

NVIDIA

Micron Tech

Western Digital

Taiwan Semiconductor

Super Micro Computer

Trump Media & Tech

Rumble

Krispy Kreme

GameStop

WSB Hot Discussion | Reddit's stock price doubled in 4 days, with a market value exceeding $10 billion