Social Media Buzz: Pinterest and Tilray Brands Set to Rise; Wallstreetbets Stocks Significantly Up Premarket

The most talked about equities on Friday morning in the Wallstreetbets subforum of Reddit were mostly up.

GameStop (GME), a favourite meme stock, increased 1.8 percent ahead of the market open after dropping 3.6 percent the previous day, while AMC Entertainment Holdings (AMC), a close companion, increased 0.3 percent.

After increasing 2.1 percent on Thursday, Apple (AAPL) grew by 0.1 percent in the premarket, while JPMorgan Chase & Co. (JPM) was unchanged. The banking behemoth released lower Q2 profits on Thursday, and chief executive Jamie Dimon announced a temporary halt to share repurchases.

After rising 0.5 percent on Thursday, Tesla (TSLA) was slightly higher in premarket trading. According to a filing with the regulator made public on Thursday, chief executive Elon Musk was asked last month in a letter to his lawyers from the US Securities and Exchange Commission to provide more information about a May tweet in which he stated that his proposed acquisition of Twitter (TWTR) "cannot move forward."

Tilray Brands (TLRY), one of the stocks under consideration, rose 1.9 percent before the market opened after surging 15 percent on Thursday, and Advanced Micro Devices (AMD), which gained 1.4 percent on Thursday, rose 0.4 percent before the market opened.

Taiwan Semiconductor Manufacturing (TSM) increased by 1.3 percent in premarket trading, adding to a session-ago rise of 2.9 percent. The chipmaker announced stronger Q2 earnings and revenue on Thursday.

After falling by 0.4 percent the previous session, Morgan Stanley (MS) was up 0.7 percent in premarket trading. The bank posted lower Q2 earnings and sales on Thursday.

Following news that activist investor Elliot Management had acquired a sizeable equity holding in the social media network, Pinterest (PINS) soared 14% premarket after falling 4.6 percent Thursday.