All three major benchmarks are in the black at midday
The Dow Jones Industrial Average (DJI) is 202 points higher this afternoon, while the S&P 500 Index (SPX) and tech-heavy Nasdaq Composite (IXIC) sit firmly in the black as well. Wall Street is digesting a deluge of economic data, including initial jobless claims that fell to their lowest level in over five decades, and falling durable goods and core capital orders. In other news, U.S. President Joe Biden is set to attend three global summits today that will address the Russia-Ukraine war.
Continue reading for more on today's market, including:
- Analyst highlights Logitech stock's attractive entry point.
- Spotify users can now subscribe via the Google Play store.
- Plus, MP options pop amid lawsuit; the new meme stock surging; and unpacking LIQT's dismal quarterly results.
One stock seeing an unusual amount of options activity is MP Materials Crop (NYSE:MP). At this point, 15,000 calls and 3,552 puts have been traded, which is four times the intraday average. The January 2023 60 call is the most popular, where LEAPS activity is suspected. MP Materials stock was last seen 11.1% higher to trade at $55.56, despite a class action securities lawsuit that Live & Korsinsky, LLP launched. MP earlier hit an all-time high of $55.72, and is pacing for its fourth daily win in five. Year-to-date, the security sports a 22.2% lead.
Alpha Tau Medical Ltd (NASDAQ:DRTS) is the one of the best performing stocks on the Nasdaq today. Last seen up 23% to trade at $14.49, the security joined the Nasdaq after a merger with Healthcare Capital. DRTS began trading under its current ticker in March 2020, and has quickly become a popular meme stock. The security has added 54.2% over the past 12 months, and earlier today surged to a record high of $20.65.
At the bottom of the Nasdaq is LiqTech International Inc (NASDAQ:LIQT), last seen down 35.7% at $3.01. Today's hefty bear gap came after the company reported wider-than-expected fourth-quarter losses, as well as a revenue miss. LIQT earlier fell to its lowest level since August 2018, and is down 65.9% year-over-year.