2 Stocks Spiraling Lower Amid Tweetstorms

Short seller: HIIQ stock could fall below $1

Sep 11, 2017 at 2:27 PM
facebook X logo linkedin


U.S. stocks are trading higher this afternoon, with the Dow up over 200 points and pacing to end above the 22,000 level for the first time in almost a month. Among the stocks swimming in the red today are medical technology company Pulse Biosciences Inc (NASDAQ:PLSE), insurance stock Health Insurance Innovations Inc (NASDAQ:HIIQ), and credit bureau Equifax Inc. (NYSE:EFX). Here's a quick look at what is moving shares of PLSE, HIIQ, and EFX.

Pulse Biosciences Stock Tanks After Company Pulls Marketing Application

Shares of Pulse Biosciences are down 15.7% to trade at $16.49, after the company withdrew its marketing application for its PulseTx medical device -- a nano-pulse stimulation platform -- due to a lack of required data. The medical technology company plans to resubmit an application for the device to the U.S. Food and Drug Administration (FDA) within the next few months.

Today's drop sent PLSE to an intraday low of $11.77 -- territory it hasn't visited since February -- and the shares were briefly halted in early trading. Ranking among the worst stocks on the Nasdaq today, PLSE is poised to close below its 200-day moving average for just the third time ever. The stock -- which was red-hot in the first half of 2017 -- has dropped 58% since touching a record high of $39.50 in June, but remains 153% higher year-to-date.

Plenty of shorts are likely cheering today's decline, as short interest represents roughly 22% of PLSE's total available float. At the equity's average daily trading volume, it would take more than seven sessions to cover the shorted shares. However, Pulse Biosciences stock is on the short-sale restricted (SSR) list today.

HIIQ Falls After Mox Reports Tweets Short Position

The worst stock on the Nasdaq today is Health Insurance Innovations, last seen down 28.4% at $21.35. HIIQ shares are down after activist Mox Reports tweeted that it's shorting the stock, citing potential fraud penalties of more than $100 million and an "undisclosed 'domino effect.'" In addition, Mox said HIIQ could drop below $1 and face delisting.

HIIQ shares hit a record high of $37.37 on Aug. 30, but have since dropped 47% to today's intraday low of $19.70. Now, HIIQ is trading near its 200-day moving average -- a trendline the stock hasn't touched since last November. HIIQ could be vulnerable to bearish brokerage notes, as five of the six analysts following the stock rate it a "strong buy," and not one rates it a "sell." 

Equifax Continues to Sink on Senator's Tweetstorm

Last seen down 8% at $113.43 -- and ranking among the worst on the New York Stock Exchange (NYSE) -- is Equifax stock. EFX shares on Friday gapped lower on news of a massive data breach that compromised personal information of 143 million U.S. customers, and a scathing tweetstorm from a U.S. Senator isn't helping matters today. Among the many tweets to Equifax today, Hawaii's Brian Schatz asked, "Why did senior executives liquidate their stock after finding out what happened?"

Now down 4.3% in 2017, EFX is pacing for its second straight close below its 200-day moving average since February. Short-term option players have rarely been more put-heavy, as evidenced by EFX's Schaeffer's put/call open interest ratio (SOIR) of 4.98, which stands just 4 percentage points from an annual high.

 

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