Zynerba Stock Swings Higher; Plus, a Car Stock at Record Levels

Ferrari is reportedly developing a four-seat utility vehicle, which could double its profits by 2022

Aug 1, 2017 at 1:50 PM
facebook twitter linkedin

U.S. stocks are trading higher, as Wall Street digests a round of economic reports ahead of tonight's earnings from iPhone parent Apple. Among other names in the spotlight are healthcare stocks Pfizer Inc. (NYSE:PFE) and Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE), as well as car manufacturer Ferrari N.V. (NYSE:RACE). Here's a quick look at what's moving shares of PFE, ZYNE, and RACE.

Pfizer Shares Slip on Revenue Miss

A second-quarter revenue miss sent Pfizer stock down 1.3% at its session low, but the shares found a foothold around $32.70 -- home to a trendline connecting a series of higher lows since November, and near the stock's year-to-date breakeven mark. At last check, PFE shares were fractionally lower at $33.13.

PFE options traders had been upping the bearish ante on the stock ahead of earnings. The stock's 10-day put/call volume ratio of 0.78 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks in the 76th percentile of its annual range, indicating traders have bought to open puts relative to calls at a faster-than-usual clip.

Zynerba Jumps on Upbeat Analyst Outlook

Zynerba Pharmaceuticals' wider-than-expected second-quarter loss sent the stock down nearly 11% out of the gate. The shares have since swung up 4% to trade at $14.66, after Canaccord Genuity reiterated its "buy" rating and $35 price target -- territory not seen since the ZYNE first began trading in August 2015 -- saying it sees the company's "cannabinoid pipeline as attractive."

Longer term, ZYNE shares are down 44% from their mid-April 19-month high of $25.95, with pressure from short sellers likely playing a factor in the stock's slide. Since the April 15 reporting period, short interest on the stock has surged 56%.

New Vehicle Buzz Drives Ferrari Stock to Record High

Ferrari stock is up 3.7% to trade at $109.04 -- fresh off a new record high of $109.78 -- after Bloomberg reported the company is contemplating adding a utility vehicle to its fleet, in order to help double its profit by 2022. Now up almost 88% year-to-date, RACE has been on a steady incline since last July, using its 50-day moving average as a springboard.

Wall Street's been getting wary, though. Short interest on RACE stock jumped 19.2% in the most recent reporting period to 2.46 million shares. The equity's ability to surge in the face of such selling pressure speaks to its underlying strength.


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!



Special Offers from Schaeffer's Trading Partners