Tariff Warning Sends Harley-Davidson Stock Lower

WBAI shorts are likely getting shocked by today's bull gap

by Josh Selway

Published on Mar 6, 2018 at 2:21 PM

The U.S. stock market is trading lower today, amid rumors that Trump administration economic adviser Gary Cohn is considering resigning. Among the individual stocks making notable moves are motorcycle king Harley-Davidson Inc (NYSE:HOG), drugmaker Clearside Biomedical Inc (NASDAQ:CLSD), and Chinese lottery operator 500.com Ltd (NYSE:WBAI). Here's what's moving shares of HOG, CLSD, and WBAI.

Options Traders Eye a Quick Bounce for HOG Stock

Harley-Davidson has found itself in the center of President Donald Trump's controversial tariff proposal, with the European Commission recently suggesting motorcycles could be a target of retaliatory tariffs. In response, the company said such a move would have a "significant impact" on its performance in Europe. HOG stock was last seen trading down 2.1% at $44.29. On Friday, the shares touched a 52-week low of $43.51, and they've already shed 13% year-to-date.

However, the weekly 3/9 45-strike and April 45 calls appear to be seeing buy-to-open activity today. In other words, some options traders are betting on a rebound from Harley-Davidson stock in the near term.

Clearside Biomedical Makes Another Big Move

It's deja vu for CLSD shareholders, as the stock makes a huge move for the second straight day. The shares are trading up 24.6% at $12.87, after the company's update on two late-stage trials for its treatment for Retinal Vein Occlusion (RVO). Wedbush responded with a price-target hike to $29 from $27, staying in line with Wall Street's generally bullish stance. While today's price action is certainly impressive, it's worth pointing out Clearside Biomedical's intraday high of $13.16 is actually below yesterday's 52-week peak of $13.25.

WBAI Shares Hit New High on Sports Lottery Ticket Sales Deal

After hitting a two-year high of $23.22 earlier, WBAI stock was last seen trading up 6.2% at $19.36, after the company announced an agreement with the China Sports Lottery Administration Center to create physical channels for the sale of its sports lottery tickets. In 2018, 500.com stock has already added over 90%, but short interest remains very elevated. For instance, the 4.1 million shares controlled by short sellers is equal to almost 20 times the security's average daily trading volume.


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