Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Jun 8, 2021 at 2:28 PM
Updated on Jun 8, 2021 at 2:47 PM
  • Analyst Update
  • Intraday Option Activity
So far, 203,000 calls have crossed the tape, in comparison to 18,000 puts. The weekly 6/11 21-strike call is the most popular, followed by the monthly June 21 call, with new positions being opened at both. 
Published on Jun 8, 2021 at 2:19 PM
  • Editor's Pick
  • Buzz Stocks

12 Reddit Stocks To Watch Right Now

by Schaeffer's Digital Content Team

Through creating retail investor interest on platforms like Facebook, Reddit, and Robinhood, certain companies have seen massive surges in share prices and volumes. These surges are speculative, volatile, and seemingly random, but they have created what we now know as Reddit stocks or meme stocks.

From these social media-driven stocks has come the rise in meme investing; a newer concept on Wall Street borne out of commission-free trading, that has become incredibly popular with retail traders. But meme investing can be very risky. The initial surge in price and volume is due to viral interest online; there is a good chance that the stock will also lose its value once the press settles. So, while you can make a lot of money in a short time, there is also the opportunity to lose a lot if you get in at the wrong time.

Whether you decide to invest in these volatile stocks or keep a pulse on the market so you understand what smaller sellers are focused on, these are the Reddit stocks to watch right now!

AMC Entertainment Holdings, Inc. (NYSE:AMC) is a movie theatre company in the United States. Last seen trading at $55.37, AMC hit a record high of $72.62 on June 2.

GameStop Corporation (NYSE:GME) is a video game retailer and perhaps the original Reddit stock, exploding onto the scene in January 2021. Last seen trading around $300, GME is up 5,902% year-over-year. That is not a misprint.

Bed Bath & Beyond Inc. (NASDAQ:BBBY) is an American chain of domestic merchandise retail stores. BBBY is trading at $36.66 and is up 271% year-to-date.

PetMed Express, Inc (NASDAQ:PETS) is an online pet pharmacy based in the United States. PETS is up 17% in June alone.

Nikola Corporation (NASDAQ:NKLA) is an American company that makes zero-emission vehicles. Last seen trading at $18.66, Nikola stock is up 34% this quarter, despite trading in penny stock territory in mid-April.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) is a real estate investment trust (REIT) that's up 66% in the last month and hit an annual high of $3.42 on June 2.

Tech giant BlackBerry Limited (NYSE:BB) has had a revival of sorts in the last year, up 173% in the last 12 months. This includes a 57% gain already in June. 

Sundial Growers (NASDAQ:SNDL) is a Canadian cannabis company that has gotten hotter at the onset of summer.  Sundial stock is up 141% in 2021.

Palantir Technologies Inc. (NYSE:PLTR) is an American software stock that specializes in big data analytics. Palantir is up 23% in the last 30 days, bouncing off the $18 level.

Tech stock Nokia Corporation (NYSE:NOK) is up 42% in the last three months.

Nio Inc. (NYSE:NIO) is an electric car company based in America. The Tesla (TSLA) rival was red-hot heading into 2021. Although the stock is down 10% year-to-date, it's tacked on 18.5% in the last month.

Cannabis stock Tilray, Inc. (NASDAQ:TLRY) is up 142% year-to-date, but last seen trading at $20, remains a ways off its Feb. 10 all-time high of $67.

Published on Jun 8, 2021 at 10:56 AM
  • Buzz Stocks
Drilling down to today's options activity, 6,291 calls and 6,560 puts have crossed the tape so far, which is 11 times the intraday average. Most popular is the 6/11 70-strike call, followed by the 75-strike call in the same weekly series, with new positions being opened at the former.
Published on Jun 8, 2021 at 10:41 AM
  • Buzz Stocks
An influx of options activity has already crossed the tape within the first hour of trading. So far 23,000 calls and 12,000 puts have exchanged hands -- eight times the intraday average. The most active contract so far is the weekly 6/11 52-strike call, followed by the 50-call in the same series. 
Published on Jun 8, 2021 at 10:39 AM
  • Buzz Stocks
 
Published on Jun 8, 2021 at 10:13 AM
Updated on Jun 8, 2021 at 10:14 AM
  • Buzz Stocks
  • Analyst Update
Options traders are also piling on the equity after earnings. In the first hour of trading, over 3,000 calls and nearly 2,000 puts have crossed the tape, total volume that is 10 times the amount typically seen at this point.
Published on Jun 7, 2021 at 3:45 PM
  • Most Active Options Update

The shares of software name Palantir Technologies Inc (NYSE:PLTR) are up 1.6% to trade at $24.42 at last check. The equity has been trading mostly sideways since March, after cooling off from a Jan. 27, all-time high of $45, which is more than four times its initial public offering (IPO) price of $10. Shares regained support at the 10-day moving average in mid-May, and over the last month have added 24.4%.

PLTR 10 Day

Additionally, the security recently appeared on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that have attracted the highest weekly options volume within the last two weeks. In Palantir Technologies stock's case,1,247,258 weekly calls and 296,645 weekly puts have crossed the tape during this time.

MAO 0607

The brokerage bunch is pessimistic towards Palantir Technologies stock, with three of the four in question carrying a tepid "hold" or worse rating, while only one said "strong buy." Plus, the 12-month consensus target price of $22.43 is an 8.7% discount to the stock's current perch. This leaves ample room for price-target hikes and/or upgrades going forward, which could push shares higher. 

Lastly, the equity looks ripe for a short squeeze. Short interest is up 53.5% in the last two reporting periods, and the 85.27 million shares sold short make up 6.1% of PLTR's available float.

Published on Jun 7, 2021 at 3:35 PM
  • Buzz Stocks

Should You Buy the Dip in RingCentral Stock?

by Schaeffer's Digital Content Team
 
Published on Jun 7, 2021 at 2:30 PM
  • Intraday Option Activity

Clover Health Investments Corp (NASDAQ:CLOV) is enjoying a boost today, up 23.5% at $11.11 this afternoon, with many Reddit-based traders now targeting a fresh round of stocks with high volumes of short interest. The security is still trading well below its Jan. 4 record high of $17.45, and sports a 33% year-to-date deficit, though it's eyeing a close above its 200-day moving average for the first time since its formation in April. 

CLOV Jun 7

The surge has sparked a melee of activity in the options pits, with 340,000 calls and 29,000 puts exchanged so far -- eight times the intraday average. The most popular is the June 11 call, followed by the 10 call in the same monthly series, with positions being opened at the former. This suggests these traders expect CLOV to maintain some of today's price action up until these contracts expire on Friday, June 18. 

Calls have been quite popular lately. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CLOV sports a 10-day call/put volume ratio of 14.06, and its Schaeffer's put/call open interest ratio (SOIR) stands at 0.21. 

This sentiment isn't reflected elsewhere, though. As we mentioned earlier, CLOV is heavily shorted at the moment, with short interest rising 7.7% in the last reporting period. The 40.46 million shares sold short make up a whopping 36.1% of the stock's available  float. 

Analyst sentiment, meanwhile, is lukewarm. Just one of the three covering CLOV call it a "strong buy," while two say "hold." Plus, the 12-month consensus price target of $9.67 is a 13.4% discount to current levels. 

Published on Jun 7, 2021 at 1:28 PM
  • Intraday Option Activity
  • Buzz Stocks
Options traders are taking note of today's pop, with options volume running at double what's typically seen at this point. More specifically, 115,000 calls and 24,000 puts have exchanged hands so far. 
Published on Jun 7, 2021 at 12:31 PM
  • Buzz Stocks

Should Generac Stock Be On Your Radar?

by Schaeffer's Digital Content Team
 
Published on Jun 7, 2021 at 10:43 AM
  • Analyst Update
 

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