Friday's Top 5 Trending Stocks: What's The Scoop On GameStop, SoFi, Tesla?

GameStop Corp. (NYSE:GME), SoFi Technologies, Inc. (NASDAQ:SOFI), Tesla, Inc. (NASDAQ:TSLA), Cassava Sciences, Inc. (NASDAQ:SAVA) and Anavex Life Sciences Corp. (NASDAQ:AVXL) are the top five trending tickers on Stocktwits Friday. Here’s a look at what grabbed retail investors’ attention.

GME GM-Meme: GameStop tops the list this week. The stock moved on heavy volume and zero fundamentals Friday, as the original meme-stock tends to do. Keith Gill, a.k.a. Roaring Kitty, dumped his Chewy, Inc. (NYSE:CHWY) shares at the end of October and GameStop has climbed steadily since. 

SOFI Surges: SoFi shares have climbed 17% this week as investors hope for deregulation under a second Trump presidency. The stock pumped on heavy volume and ended the day more than 9% higher. 

Read Next: What Does Trump’s Victory Mean For EV Giant Tesla And The Big 3 Automakers?

TSLA For President: Tesla shares blasted higher after Donald Trump won the presidential election. Tesla CEO Elon Musk joined Trump several times on the campaign trail and may even be appointed to a position in the administration. 

Investors may also consider Trump's EV and tariff policy beneficial to Tesla, as both could potentially reduce competition for the U.S.-based EV giant. The stock has been up 30% since Tuesday, and its market cap has now reached more than $1 trillion. 

SAVA: Cassava Sciences is a frequent flier on the Stocktwits trending list. HC Wainwright & Co. analyst Vernon Bernardino reiterated Cassava Sciences as a Buy and maintained an ambitious price target of $116 on Friday. The stock is currently trading at just under $27. 

AVXL: Anavex Life Sciences rounds out the list as another heavily-shorted biotech stock that moved on heavy volume, despite a lack of news. According to data from Benzinga Pro, 21.78% of shares are being sold short, and the stock saw more than triple its average trading volume on Friday. 

GME, SOFI, TSLA, SAVA, AVXL Price Action: According to data from Benzinga Pro, GameStop shares closed up 6.1% at $24.88, SoFi shares closed up 9.33% at $13.01, Tesla shares closed up 8.19% at $321.22, Cassava Sciences shares closed up 6.55% at $27.00 and Anavex Life Sciences shares ended the day up 21% at $9.24 on Friday. 

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