Social Media Buzz: Snap, Meta Platforms Poised to Fall, GameStop to Rise; Wallstreetbets Stocks Significantly Down Premarket

On Friday, Snap (SNAP) dominated talks about the most-mentioned stocks in the Reddit subforum Wallstreetbets, which were generally down hours before the opening bell.

The social network business lost 30% in the premarket following a session-high rise of 5.4%. Following the company's late-Thursday announcement that its Q2 adjusted loss increased as sales increased, numerous analyst rating drops were made.

The premarket price of Tesla (TSLA) stayed unchanged after rising 9.8% on Thursday. Late on Wednesday, the business announced Q2 non-GAAP earnings and revenue growth.

GameStop (GME), a popular meme stock, defied the trend and climbed 2.5 percent premarket after falling 3.3 percent on Thursday.

After slightly increasing on Thursday, Facebook parent company Meta Platforms (META) fell by 4.8 percent in the premarket. MoffetNathanson and Deutsche Bank both reduced their price expectations for the company.

In addition, Alphabet (GOOGL) declined 2.8 percent premarket following a 0.4 percent gain on Thursday, NVIDIA (NVDA) dropped 1.7 percent premarket following a 1.4 percent gain the previous day, Advanced Micro Devices (AMD) was down 1.5 percent premarket following a 1.9 percent gain the day before.

Before the opening bell, Twitter (TWTR) was down 2.9 percent after down 0.1 percent on Thursday.