Social Buzz: Tesla, Facebook in Wallstreetbets Spotlight as Digital World Tumbles, Progenity Gains

MT Newswires ·  {{timeTz}}

03:25 PM EDT, 10/26/2021 (MT Newswires) -- Tesla and Facebook were the stocks discussed most on Reddit's Wallstreetbets forum Tuesday, while Trump-connected Digital World Acquisition and Progenity made the sharpest moves.

Telsa (TSLA) shares were up 1% at $1,037.33 the day after the EV maker hit the $1 trillion valuation mark. Shares rallied Monday following news that Hertz plans to buy 100,000 Telsa vehicles for its rental fleet.

Facebook (FB) shares fell 5% to $313.03. The social media platform released a mixed earnings report late Monday.

Digital World Acquisition (DWAC) shares tumbled 25% to $62.50. The stock had been on a roll since last Thursday, when the blank-check company announced it was merging with Trump Media, which is affiliated with former president Donald Trump. Shares had gained 680% over the past five sessions.

Progenity (PROG) shot up 20% to $4.09 on volume 500% above the stock's daily average. On Tuesday, the genetic tests provider said it will reduce its debt by $20.2 million through a private exchange of its 7.25% convertible senior notes due 2025 for about 8.5 million common shares.

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