Social Media Trends: Coinbase Global Poised to Surge, PayPal Holdings to Sink, Wallstreetbets Stocks Significantly Up Premarket

The majority of the equities discussed on Friday morning in the Wallstreetbets subforum of Reddit were up.

Following a session-long 8.1% loss, Coinbase Global jumped 8.2% in the premarket. The cryptocurrency trading company reported a Q3 loss on Thursday as revenue dropped.

Meta Platforms, the parent company of Facebook, gained 1% in premarket trading after losing 1.8% the previous day. Ajit Mohan, the national manager for India for the social media behemoth, announced on Thursday that he is quitting the organisation to become the head of Snap's Asia-Pacific region.

Pre-market, Amazon.com increased 1.4% after falling 3.1% on Thursday. In light of the deteriorating economic climate, the firm said on Thursday that it is halting "new incremental recruits" for its corporate personnel.

Pre-market, Tesla increased 1.7% after increasing 0.2% on Thursday. According to a study by the China Passenger car Association, the business delivered 71,704 electric vehicles built in China in October, a decrease of 14% from a record high in September, according to Reuters on Thursday.

Apple, one of the stocks under scrutiny, rose 0.4% ahead of the market start after falling 4.2% on Thursday, and GameStop, a popular meme stock, rose 1.8% before of the opening bell after falling 1.2% on Thursday. Advanced Micro Devices was up 1.5% premarket, adding to a 2.5% rise Thursday.

Following the release of lower Q3 non-GAAP earnings, PayPal Holdings PYPL dropped 7% premarket, adding to a 3.7% decline on Thursday.