Tech-Heavy Nasdaq Firmly Higher Midday

The S&P 500 is inching into positive territory as well

Deputy Editor
Jun 22, 2023 at 12:16 PM
facebook X logo linkedin

Stocks are attempting a rebound this afternoon, following their third-straight day of losses. Though the Dow Jones Industrial Average (DJI) is still lower, the S&P 500 Index (SPX) is inching higher, and the Nasdaq Composite (IXIC) sports a firm lead as investors buy beaten-down tech stocks. Wall Street is also eyeing Federal Reserve Chair Jerome Powell as he addresses the Senate Banking Committee. Meanwhile, oil prices moved back below $70. 

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

mmc june22

Western Alliance Bancorp (NYSE:WAL) is seeing increased options activity today. Last seen down 3.6% to trade at $35.29, 14,000 puts have exchanged hands already today, volume that's double the average intraday amount. WAL is down more than 40% since the start of the year, and is seeing pressure at its 80-day moving average as it heads toward its fourth-straight daily loss. 

WAL mmc June22

IGM Biosciences Inc (NASDAQ:IGMS) is 7.4% higher at $9.51 at last glance, climbing from last session's record low of $8.50, after the company announced a public offering of 10.6 million shares and a concurrent private placement of 2.8 million non-voting shares to Redmile Group. The company plans to raise $100 million to fund cancer as well as autoimmune and inflammatory disease treatments. Year-to-date, IGMS is still down roughly 43%. 

One of the worst stocks on the Nasdaq today is Avid Bioservices Inc (NASDAQ:CDMO), after the company's fiscal 2024 revenue forecast came in below estimates. No fewer than three analysts slashed their price targets following its fiscal fourth-quarter earnings report, which was came in line with estimates. At last check, CDMO was down 14.4% to trade at $13.32, and is down roughly 6% in 2023.


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI