CarMax, Wynn Resorts, Dynavax Stocks Moving Today

CarMax, Inc (KMX), Wynn Resorts, Limited (WYNN), and Dynavax Technologies Corporation (DVAX) are three stocks making notable moves on the charts today

Mar 1, 2017 at 2:34 PM
facebook X logo linkedin


The Trump rally has resumed after the president's first address to Congress, with the Dow soaring past the 21,000 level. Among specific equities in focus are auto sales specialist CarMax, Inc (NYSE:KMX), casino stock Wynn Resorts, Limited (NASDAQ:WYNN), and biotech concern Dynavax Technologies Corporation (NASDAQ:DVAX). Here's a quick look at what's moving shares of KMX, WYNN, and DVAX.

Chanos Short Position Sends CarMax on a Wild Ride

Shares of KMX took a sharp dip near midday, falling nearly 3% following reports Jim Chanos has taken a short position on the stock. It didn't take long for the security to climb back into positive territory, though, last seen up 1.1% at $65.26 amid unusually high volume. In fact, intraday stock volume is running in the 99th percentile of its annual range, at last check. The quick recovery could come as a disappointment to other short sellers. At present, 10.7% of CarMax, Inc's total float is wrapped up in these pessimistic positions, accounting for nearly 12 sessions' worth of trading, at the stock's average daily volumes. These bears could already be on edge, though, considering KMX is sitting on a 36.8% year-over-year lead. 

Wynn Resorts Gets a Lift from Macau Data

WYNN is soaring 7.1% to $102.96 today after gambling revenue out of Macau rose to a two-year high, climbing for a seventh straight month. The stock is off to a solid start in 2017, up 19%, after notching a series of higher lows over the past four months and recently bouncing off support at the 80-day moving average. That doesn't seem to be impressing analysts, however. Out of 15 firms providing coverage, 11 rate Wynn Resorts, Limited a "hold" or "strong sell."

FDA Nod Sends Dynavax Soaring

The U.S. Food and Drug Administration (FDA) last night announced it has accepted DVAX's hepatitis B vaccine for review -- news that helped the stock surge 56.1% to $7.03, making it the top gainer on the Nasdaq. A previous FDA rejection of the drug sent the stock spiraling back in November. As it stands, DVAX has a lot of ground to make up, with the shares still down 60% year-over-year. It's therefore not surprising Dynavax Technologies Corporation has been targeted by short sellers in recent months. Even after falling nearly 11% in the past two reporting periods, these bearish bets represent 22% of the stock's total float, which would take more than three weeks to cover, at DVAX's typical pace of trading. 

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

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI