2 big winners in today's trading
Stocks are holding positive territory as they eye their best week of the year. Two names to watch today are online retailer Revolve Group (NYSE:RVLV) and weed producer Aphria Inc (NYSE:APHA). Below is a quick look at how the shares of RVLV and APHA are trading today.
Revolve Shares Soar in IPO Session
Online apparel retailer Revolve Group is watching as its stock jumps 79% in its first day of trading, last quoted at $32.63. The shares' initial public offering (IPO) was priced at $18, and they opened near $25. Helping them along the way was bullish attention from Citron Research, which said the equity could trade up to $50. The research firm, more known for its critical viewpoints of companies, will likely be hoping this position goes better than its short call on Beyond Meat (BYND) from mid-May.
APHA Pops on PAX Labs Partnership
APHA stock is trading higher today, on news of its partnership with PAX Labs to provide cannabis extract for cannabis vape pods. Aphria was last seen trading up 6.6% at $7.35, and is set to take out its 30-day moving average, a trendline not topped since a mid-April bear gap.
Still, analysts remain bullish on Aphria, and call buying has stayed popular at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). In the past 10 days, about 9,700 long calls crossed, compared to around 2,000 puts. Today, however, new positions are opening at the June 7 put.