Social Media Buzz: Taiwan Semiconductor Manufacturing, Advanced Micro Devices Set to Rise as Wallstreetbets Stocks Sharply Decline Premarket

The most talked-about equities on Thursday morning in the Wallstreetbets subforum of Reddit were mostly down.

GameStop (GME), a popular meme stock, fell 1.3 percent in the premarket after rising 3 percent the previous day, while AMC Entertainment Holdings (AMC), a close companion, fell 1.3 percent, compounding a 2.9 percent slide the day before.

After rising 1.7 percent on Wednesday, Tesla (TSLA) fell 1% in the premarket. According to Nikkei Asia on Wednesday, Panasonic Holdings will spend "several billion dollars" in Kansas to build a second US electric vehicle battery factory and deliver a new high capacity battery to the automaker. Truist Securities also opened the stock with a buy.

After losing 0.9 percent the previous session, JPMorgan Chase & Co. (JPM) was down 1.4 percent in premarket trading. On Thursday, the bank is anticipated to release its quarterly results.

WeWork (WE), DMC Global (BOOM), and 23andMe Holding (ME) are a few of the other companies under consideration. Premarket trading saw WeWork (WE) and DMC Global (BOOM) flat after premarket drops of 5.5% and 5.9%, respectively, on Wednesday.

Taiwan Semiconductor Manufacturing (TSM), defying the trend, increased 1.6 percent in premarket trading following a 2.8 percent gain on Wednesday. The business posted increased Q2 earnings and revenue on Thursday.

Prior to the opening bell, Advanced Micro Devices (AMD) increased 1.0 percent, bringing its overall gain for the day to 1.5 percent. Market Perform was upgraded to Outperform by BMO Capital.