Gogo, Shutterstock, Sothebys Stocks Moving Today

Gogo, Shutterstock, and Sothebys are three stocks making notable moves on the charts today

Feb 27, 2017 at 3:37 PM
facebook twitter linkedin

The Dow has pared earlier losses, bringing a 12th straight record close into sight. Among specific equities in focus are in-flight internet provider Gogo Inc (NASDAQ:GOGO), stock photo specialist Shutterstock Inc (NYSE:SSTK), and auction house Sothebys (NYSE:BID). Here's a quick look at what's moving shares of GOGO, SSTK, and BID.

Gogo Flies High After Guidance

GOGO is up 16.6% at $10.63, on pace for its first close atop the 200-day moving average since September, after the company announced a better-than-expected revenue outlook for 2017. Gogo Inc also said it expects to be cash-flow positive in 2019, which is a year earlier than previously anticipated. While shareholders are celebrating the news, short sellers are getting crushed. At GOGO's average pace of trading, it would take such bears a mind-boggling five weeks to cover their positions. 

Quarterly Results, Outlook Shock Shutterstock Shareholders

SSTK is one of the biggest losers on the New York Stock Exchange today, dropping 17.5% to trade at $42.59, after the company delivered lackluster quarterly results and a downbeat outlook. While the shares are still higher on a year-over-year basis, they're now well on pace for their first close below the 50-week moving average since early December. We'll see if the bear gap results in any reshuffling from the brokerage bunch, since all five analysts covering Shutterstock Inc consider it just a "hold." 

Sothebys Beat Brings New Highs

BID, meanwhile, is near the top of the Big Board, up 15.3% at $46.23, after the company's impressive fourth-quarter earnings report. The shares earlier tagged a nearly two-year high of $46.99, and have now more than doubled in value over the past 12 months. Despite these huge gains, Sothebys is heavily shorted, with short interest accounting for almost 19% of the stock's total float -- or 23 times its average daily volume. 

Get a jump-start on the day's stock market news with Schaeffer's free Opening View newsletter.

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners