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
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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. 

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