Buzz Stocks: Arrowhead Pharmaceuticals Inc, GoPro Inc, and SunPower Corporation

Donald Trump's surprising victory in the U.S. presidential election has broadsided stocks in electronic trading. Among specific equities in focus today are drugmaker Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR), camera concern GoPro Inc (NASDAQ:GPRO), and solar stock SunPower Corporation (NASDAQ:SPWR). Here's a quick look at what's driving ARWR, GPRO, and SPWR.

• ARWR is poised to plummet 28% at the open, after the U.S. Food and Drug Administration (FDA) imposed a clinical hold on a mid-stage trial of the company's hepatitis B treatment, ARC-520. As such, the stock -- which settled yesterday at $6.11, or roughly flat year-to-date -- will likely give up its near-term foothold at the 200-day moving average. While Arrowhead Pharmaceuticals Inc could land on the short-sale restricted (SSR) list, plenty of short sellers have already piled on the stock. One-fifth of ARWR's float is sold short, which would take nearly three weeks to cover, at the equity's average trading level.

• GPRO is down 8.8% ahead of the bell, after the company recalled 2,500 Karma drones -- less than three weeks since they hit the market. Making matters worse, Raymond James and Wedbush reduced their ratings to the equivalent of a "hold," while the latter -- along with J.P. Morgan Securities -- also cut its price target. It's already been a rough year for GoPro Inc, down nearly 40% year-to-date at $10.86, exacerbated by a recent earnings whiff. Accordingly, options traders have been extremely bearish in recent weeks. GPRO's 10-day put/call volume ratio of 1.36 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks only 2 percentage points from an annual high.

• Trump's victory has taken the wood to solar stocks, as the president-elect has shown a tendency to favor traditional energy sources, promising to deregulate the oil sector. One victim of this is SPWR, which has plunged 12.9% pre-market, setting it up to flirt with all-time lows and land on the SSR list. As of last night's close at $7.34, SunPower Corporation had already lost three-quarters of its value year-to-date. Based on the above, the stock could be vulnerable to bearish analyst attention, as not one of its 18 covering brokerage firms recommends selling. Already, BofA-Merrill Lynch has lowered its rating to "neutral" from "buy," saying Trump's policies are viewed as unfavorable to the solar sector.

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