Social News: Netflix Set to Soar, International Business Machines to Fall, Wallstreetbets Stocks Largely Up Premarket

The most talked-about equities on Tuesday morning in the Wallstreetbets subforum of Reddit were mainly up.

GameStop (GME), a popular meme stock, gained 1.2 percent in premarket trading after rising 3.5 percent on Monday. Companion AMC Entertainment Holdings (AMC), which gained 7.9 percent on Monday, gained 0.9 percent in premarket trading.

While Tesla (TSLA) was up 1.4 percent premarket following a 0.2 percent rise on Monday, Netflix (NFLX) climbed 1.4 percent premarket, adding to Monday's 1 percent gain.

After falling 2.1 percent on Monday, Apple (AAPL) was up 0.5 percent in premarket trading. According to sources with knowledge of the situation, the tech giant plans to reduce employment and spending growth in several divisions in 2023 in order to maintain the business during a "possible economic slump."

International Business Machines (IBM), which had declined 1.3 percent the previous session, deviated from the trend and slumped 4.9 percent premarket. The business posted greater Q2 adjusted operating earnings and revenue on Monday.

NVIDIA (NVDA) was up 0.8 percent premarket, adding to a 2.2 percent gain on Monday, and Alphabet (GOOG, GOOGL) was up 0.9 percent premarket, recovering from Monday's 2.5 percent fall.

After making a small gain on Monday, Bank of America (BAC) increased by 0.6 percent before the opening bell. While sales increased, the bank's Q2 results fell on Monday.