U.S. President Donald Trump signed a $900 billion stimulus bill into law
The last week of 2020 is off to a strong start, after U.S. President Donald Trump signed a $900 billion stimulus bill into law, ultimately preventing a government shutdown and extending unemployment benefits to millions of Americans. The unexpected move came after Trump heavily criticized the $600 direct payments in the package. In response to the new stimulus, all three major indexes hit records, with the Dow Jones Industrial Average (DJI) up 230 points at midday. Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also higher. Elsewhere, White House advisor and infectious disease specialist Dr. Anthony Fauci warned over the weekend that Christmas celebrations could bring a new surge of COVID-19 infections.
Continue reading for more on today's market, including:
- This small-cap stock has huge potential for upside.
- Myovant Sciences stock surges on new partnership.
- Plus, options bulls blast recycling stock; ReneSola sells Romanian solar parks; and Lemonade stock's selling restrictions to expire.
One stock seeing notable options activity today is Aqua Metals Inc (NASDAQ:AQMS), last seen up 38% to trade at $3.23, after the recycling company made improvements to its sustainability by focusing on battery recycling technology. So far today, 17,000 calls and over 1,700 puts have already exchanged hands, which is 15 times the average intraday amount. Most popular is the January 2021 2.50-strike call, followed by the February 5 call. In addition, Aqua Metals stock has tacked on 317.7% this year.
Meanwhile, one stock near the top of the New York Stock Exchange (NYSE) today is ReneSola Ltd. (NYSE:SOL), last seen up 17% at $11.35. The positive price action came after after the company announced it will sell two ground-mounted solar parks in Romania to Alternus Energy. The company's CEO said the sale will enable ReneSola to generate strong cash flow, realize profits, and further strengthen its financial position. In addition, the solar project developer announced a $20 million registered direct offering. The security hit a Dec. 22, six-year high of $12, and is up an impressive 724.8% year-to-date.
Near the bottom of the NYSE today is Lemonade Inc (NYSE:LMND), last seen down 13.1% to trade at $108.70. The insurance concern's insider selling restrictions are set to expire this week, with roughly 44 million additional shares eligible for sale this Tuesday, Dec. 29. The equity has been climbing up the charts since November, and back on Dec. 23 hit a record high of $137.19, which is more than eight times its initial public offering (IPO). Despite the negative price action, LMND is still getting support from the 10-day moving average, and sports a 118.8% quarter-to-date lead.