Buzz Stocks: BlackBerry Ltd, Tesla Motors Inc, and TerraForm Power Inc

Today's stocks to watch include BlackBerry Ltd (BBRY), Tesla Motors Inc (TSLA), and TerraForm Power Inc (TERP)

Apr 1, 2016 at 9:25 AM

U.S. stocks are signaling a lower open, following a mixed jobs report. Among the equities in focus today are mobile phone maker BlackBerry Ltd (NASDAQ:BBRY), electric car concern Tesla Motors Inc (NASDAQ:TSLA), and solar "yieldco" TerraForm Power Inc (NASDAQ:TERP).

BBRY is bracing for a 6% slide out of the gate, after the company posted a wider-than-forecast drop in quarterly revenue. Losses are nothing new for the stock, which has shed nearly 13% year-to-date at $8.09. Understandably, Wall Street has taken a glass-half-empty approach toward BlackBerry Ltd, especially among short sellers. What's more, 14 of 16 analysts rate the shares a "hold" or worse.

TSLA unveiled its low-cost Model 3 sedan yesterday, and consumers reacted positively -- as orders exceeded 130,000 in the first 24 hours, blowing past estimates. Car buyers weren't the only ones feeling good -- on Wall Street, Dougherty lifted its price target to $500, more than double last night's close at $229.77. Ahead of the bell, Tesla Motors Inc is pointed 7.1% higher, putting it on track for its highest level since October. Short sellers could be in trouble. Nearly 32% of the stock's float is sold short, and would take almost seven sessions to buy back, at TSLA's average daily volume.

TERP is getting ready for a rare day in the sun, after Appaloosa Management boosted its stake in the firm from 9.5% to 10.9%. Specifically, the shares are trading 5% higher pre-market, but at $8.65, they've lost over three-quarters of their value year-over-year. Accordingly, traders have been buying to open TerraForm Power Inc puts over calls at an accelerated clip. The stock's 10-day put/call volume ratio of 1.71 across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) registers in the top quartile of its annual range.

Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!

Follow @Schaeffers

The $25K Day Trading Barrier is Gone

The long-standing Pattern Day Trader (PDT) rule that required many traders to maintain a $25,000 account balance is no longer standing in the way.

That means more traders can actively pursue short-term opportunities without the barrier that kept so many on the sidelines.

Now it's all about having the right strategy.

Dynamite Day Trading Signals helps you hit the ground running with up 2 options trade alerts per week, built to capture fast-moving opportunities.

👉 Sign up now to receive the next trade