Nasdaq Moves Higher Despite Turkey Headwinds

Another tech winner is Twitter, thanks to Citron Research's bullish tweet

Aug 13, 2018 at 11:54 AM
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The Dow Jones Industrial Average (DJI) remains below breakeven today, as stocks struggle to overcome fear surrounding the Turkey currency crisis. Similar to Friday's trading, the Cboe Volatility Index (VIX) is making a sharp move higher, though the Nasdaq Composite (IXIC) is sporting small gains at midday, with a few tech stocks sidestepping the headwinds. Most notably, Apple (AAPL) shares are gaining, earlier hitting another all-time high.

Continue reading for more on today's market, including:

midday market stats august 13

One name seeing notable options trading today is Twitter Inc (NYSE:TWTR). Call activity was hot on TWTR right from the get-go, as someone seemingly bought to open 1,190 August 31.50 calls minutes after the open. There's also heavy trading at the August 33 call. The shares have popped 3.2% today to trade at $33.05, thanks to a bullish tweet from Citron Research, which said the shares will go to $52. The social media stock traded as high as $47.79 back in June before eventually gapping lower after earnings last month, bottoming just above the 200-day moving average.

One of the best stocks on the New York Stock Exchange is Evolent Health Inc (NYSE:EVH). The shares are returning to their previous highs from June and July, thanks to a strong rally that began after a meet-up with the 80-day moving average. At last check, EVH stock was trading 4% at $22.83, and has gained almost 86% year-to-date.

evh stock price

Elsewhere in the healthcare sector, Quotient Ltd (NASDAQ:QTNT) is pulling back after the company announced a $200 million shelf offering. QTNT was last seen down 8.3% at $7.07, on pace for its lowest close since prior to its mid-June bull gap. Still, the stock is up more than 57% during the past 12 months.


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