Wayfair, Meet Group, Spirit Airlines Stocks Moving Today

Three stocks making big moves on the charts today are Wayfair, Meet Group, and Spirit Airlines

May 9, 2017 at 1:58 PM
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Stocks are staying mostly range-bound, though a new VIX low is drawing some attention. Among specific stocks on the move are e-commerce specialist Wayfair stock, app developer Meet Group Inc (NASDAQ:MEET), and travel concern Spirit Airlines Incorporated (NASDAQ:SAVE). Here's a quick look at what's moving shares of W, MEET, and SAVE.

W Stock Booms Despite Citron Dis 

W stock is soaring today -- the top percentage gainer on the New York Stock Exchange (NYSE) -- up 24.5% at $63.65, and earlier touching a record high of $63.92. The shares are benefiting from the company's well-received first-quarter earnings report, though Wayfair hasn't convinced everyone. Specifically, notorious short seller Citron Research tweeted out that it "loves the opportunity to short more [Wayfair stock] here," setting a price target of $45. Still, W shares have been unbelievably strong in recent weeks, adding over 80% since their March 7 low of $35.36. It looks like short sellers aren't the only ones hurting today, as the equity has a Schaeffer's put/call open interest ratio (SOIR) of 1.33, ranking in the 86th annual percentile, meaning short-term W options traders are unusually put-skewed right now. 

Meet Group Stock Slides, But Finds Trendline Support

MEET stock is falling following the company's first-quarter results. At last check, the shares were down 13.4% at $5.46, putting them on the short-sale restricted list, though they've seemed to find a foothold atop their 50-day moving average. Plus, Meet Group Inc is still 10.8% higher on a year-to-date basis, and analysts are very bullish. In fact, each of the three brokerage firms tracking MEET stock have issued "strong buy" ratings. 

SAVE Stock Gets Hit Amid Labor Dispute

SAVE is the latest airline to make headlines, after flight cancellations due to labor disputes with its pilots led to a massive brawl at a Florida airport. Meanwhile, Spirit Airlines Incorporated has filed a lawsuit against the Air Line Pilots Association (ALPA), claiming it's using illegal tactics amid the wage negotiations. As for SAVE stock, it's down 3.5% today at $55.40, though, year-over-year, the shares still sport a 36% lead. Elsewhere, options traders have been bullish, albeit amid low absolute volume. The stock's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at a top-heavy 4.30. 

 

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