Stocks Stumbling After Thanksgiving Week

The retail sector is in focus today as Cyber Monday continues

Deputy Editor

Nov 28, 2022 at 11:54 AM

The Dow Jones Industrial Average (DJI) is extending its premarket losses, down 265 points at midday, as protests in China over the country's zero-Covid policy weigh on investor sentiment globally. Apple (AAPL) in particular is feeling the heat, after Wedbush said the protests could lead to an iPhone shortage of up to 10% this holiday season. Meanwhile, the retail sector is in the spotlight this Cyber Monday, especially after online Black Friday sales hit a record-breaking $9 billion.

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

Pinduoduo stock benefitting from China's lockdowns.
Two oil stocks dropping from recent highs.
Plus, options bulls blast AXSM; DBGI continues to soar; and CINC slips to lowest levels since June.

MMC Nov28

Axsome Therapeutics Inc (NASDAW:AXSM) is seeing a bullish options surge today, after a late-stage study of its experimental drug, AXS-05, met its primary and key secondary goals in treating Alzheimer's agitation. So far, 10,000 calls have been exchanged -- eight times the intraday average -- compared to 3,603 puts. The December 100 call is the most popular, with new positions opening there. AXSM is up 33.2% at $75.67, its highest level since January of 2021.

AXSM Nov28

Digital Group Brands Inc (NASDAQ:DBGI) is one of the top performers on the Nasdaq today, up 48.7% at $8.86 at last glance. The stock has been rallying since its Nov. 21 record low of $3.21, though still down 96% year-to-date. Should these gains hold, DBGI will secure its fourth-straight daily win.

CinCor Pharma Inc (NASDAQ:CINC) stock is crumbling after the company's experimental drug to treat high blood pressure, Baxdrostat, failed in a mid-stage study. CINC is down 46.9% at $14.08 at last check, and trading at its lowest levels since June.

Follow @Schaeffers

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*