To New Heights: Ambarella, Gilead Sciences, and GoDaddy

Stocks hitting new highs today include Ambarella Inc (NASDAQ:AMBA), Gilead Sciences, Inc. (NASDAQ:GILD), and GoDaddy Inc (NYSE:GDDY)

Jun 18, 2015 at 3:24 PM
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It's been another strong day for domestic stocks. Among those hitting new highs are semiconductor concern Ambarella Inc (NASDAQ:AMBA), biopharmaceutical concern Gilead Sciences, Inc. (NASDAQ:GILD)and Wall Street rookie GoDaddy Inc (NYSE:GDDY). Here's a closer look at AMBA, GILD, and GDDY:

  • AMBA touched an all-time high of $128.06 earlier, but this technical strength is nothing new; the shares have smashed their way up the charts this year, adding nearly 150%. The stock was last seen up 3% at $125.88, and short sellers are probably sweating once again. Over 28% of Ambarella Inc's float is sold short, and would take four days to cover, at its normal trading pace. Option traders have been placing bearish bet, too. AMBA's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio stands at 1.04 -- only 12 percentage points from an annual high. 

  • GILD also hit a record high earlier at $121.78, and with its 2.1% gain today to trade at $121.50, the stock is now up 28.8% in 2015. Analysts are certainly believers. Of the 16 brokerage firms with coverage on the security, 13 say it's a "buy" or better. Elsewhere, it seems short sellers are starting to get the hint. During the most recent two-week reporting period, short interest on Gilead Sciences, Inc. dropped over 27%. While put buying has been popular on GILD, some of it has likely been from shareholders hedging against any unexpected drops in the stock. 

  • GDDY started trading at $26.15 when it went public on April 1. Today, the shares are hovering at $31.38, after earlier touching their highest price ever, at $31.75. During the past 50 sessions -- encompassing almost all of GoDaddy Inc's life span -- nearly 4,500 calls have been bought to open, versus 3,362 puts at the ISE, CBOE, and PHLX, showing option traders have preferred long GDDY calls over puts. Analyst are also bullish, as 90% call the shares a "buy" or better.


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