D-Wave Quantum Inc. (NYSE:QBTS), Asset Entities, Inc. (NASDAQ:ASST), Alphabet, Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), Novavax, Inc. (NASDAQ:NVAX) and Carvana Co. (NYSE:CVNA) are the top five trending tickers on Stocktwits Thursday.
Here's a look at what is grabbing retail investors' attention.
QBTS: D-Wave Quantum shares are rallying after the company beat analysts' estimates and reported record quarterly revenue before the opening bell. While $15 million may not sound impressive, it is a 509% increase from the prior year's quarter and retail investors are piling in.
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ASST: Asset Entities stock is volatile for the second day on Thursday following Wednesday's announcement that it will merge with Strive Asset Management to be the first publicly traded asset management Bitcoin (CRYPTO: BTC) treasury company. Trading has been halted multiple times for volatility and the stock is up over 100% at the time of publication.
GOOG: Alphabet suffered its worst trading day since 2023, shedding nearly $150 billion in market cap, on Wednesday after Apple revealed it has been talking to ChatGPT and Perplexity about potential search partnerships. The stock is attempting to recover some losses Thursday, but Google's future search dominance remains in question.
NVAX: Retail traders are celebrating Novavax's massive first-quarter earnings beat that was released before Thursday's opening bell. The company reported earnings of $2.93 per share which beat the Street estimate of 71 cents by a whopping 312%. Novavax also reported nearly double the consensus revenue estimate and issued guidance well-above analysts' estimates.
CVNA: Carvana shares are driving higher on its better-than-expected Q1 earnings, as well as a slew of analysts' price target raises. The company reported first-quarter earnings of $1.51 per share, smashing analyst estimates of 60 cents per share.
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