Stocks Cool Off From Last Week's Rally

A cooling tech sector has the Nasdaq down triple digits

Deputy Editor
Nov 14, 2022 at 11:58 AM
facebook X logo linkedin


Stocks are starting the week off lower, unable to build off of last week's impressive rally. The Nasdaq Composite (IXIC) is down triple digits at midday as the tech sector takes a breather, while the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) sit more modestly in the red.

Meanwhile, gold prices are inching higher and are holding at their highest levels since August. Investors are also unpacking comments from Fed Vice Chair Lael Brainard, who told Bloomberg news “I think it will probably be appropriate soon to move to a slower pace of rate increases.”

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

  • Struggling Amazon stock loses "best idea" status. 
  • Analysts can't get enough of this semiconductor stock
  • Plus, options bulls target MLCO; two biotech stocks moving in different directions. 

MMC Nov14

Shoals Technologies Group Inc (NASDAQ:SHLS) is seeing a bearish options surge ahead of its third-quarter report, due out after the close today. So far, 7,792 puts and 564 calls have crossed the tape, with put volume running at 18 times the intraday average. The stock has been getting turned away at the $24 level, though its 200-day moving average has been offering support just above $18. Year-over-year, the stock is down 36.1%. 

SHLS Nov14

Opiant Pharmaceuticals Inc (NASDAQ:OPNT) is at the top of the Nasdaq today, up 113.6% at $20.29 at last glance, after news that Indivior Inc, a subsidiary of Indivior PLC (INDV) has offered to buy the company in a deal valued at $28 per share. The merge is approved by both companies and is awaiting regulatory approval. Now trading at its highest level since May, the equity is still down 39.4% year-to-date. 

Meanwhile, POINT Biopharma Global Inc (NASDAQ:PNT) is down 35.4% at $5.90 and on the short sell restricted (SSR) list, after news that the company has signed collaboration agreements with Lantheus Holdings (LNTH) for PNT2002 and PNT2003, its late-stage cancer therapy drug candidates. Year-to-date, PNTH is still up 6.7%.  

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI