3 Stocks Making Major Moves Today

NVAX stock just hit brand-new lows

Digital Content Manager
Jun 10, 2019 at 2:51 PM
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The Dow is set to clock its longest rally in over a year today, eyeing its sixth day in the black after President Donald Trump called off his tariff threats against Mexico. Meanwhile, Novavax, Inc. (NASDAQ:NVAX)Vuzix Corp (NASDAQ:VUZI), and Wynn Resorts, Limited (NASDAQ:WYNN) are making major moves today, as well. Below, we'll dig into what's driving the shares of NVAX, VUZI, and WYNN.

NVAX Stock Hits New Low On FDA Request

NVAX stock just hit a brand new all-time low of $5.34 earlier today, after the Food and Drug Administration (FDA) suggested another late-stage study for the drugmaker's viral respiratory tract vaccine, ResVax, used in pregnant women to protect infants from RSV.  The shares are now down 12% to trade at $5.38, dipping back below their 10-day moving average.

Looking more broadly at the charts, NVAX has been trading in a series of lower lows since a massive bear gap in late February. Recently, the stock has been somewhat stagnant, testing its footing near the $6 region prior to today's drop. Somewhat surprisingly, analysts have yet to chime in on sinking Novavax. The door is wide open for a round of bear notes, however, with four of the seven ratings sitting in the "buy" or better camp. Plus, the consensus 12-month target price of $24.71 is more than four times NVAX's current levels.

Options Traders Flock to VUZI Amid Facial Recognition Buzz

Vuzix stock is trading back near its late-March levels today, after the wearable tech firm said its new facial recognition artificial intelligence (AI) technology, iFalcon Face Control Mobile, will be integrated into its Vuzix Blade Smart Glasses. The shares are up 48.6% at $3.01, and are set to finish back atop their 80-day moving average for the first time since November.

Options traders are coming out in droves after today's news. At least check, 1,580 calls and 437 puts had exchanged hands -- 11 times what's typically expected for VUZI at this point. The July 5 call is the most popular, and it looks like the majority of the contracts are being purchased here. This could indicate that traders are betting on the tech stock rallying over the $5 region by the time the contract expires at the close on Friday, July 19. 

Analyst Comments Have WYNN Stock Scaling SPX

Casino concern Wynn Resorts is at the top of the S&P 500 Index (SPX) this afternoon. The equity got a boost, along with other gambling stocks, after Jefferies predicted a 10% rally in gross gaming revenue (GGR) growth for 2019 thanks to an improving Chinese economy. The analyst said WYNN had the highest leverage and exposure to Macau of all its sector peers. The stock is 5.6% higher at $117.25, in reaction.

The equity has been on the rebound since bottoming out at a four-month low right beneath the $105 region in early June. The stock has managed a nearly 14% gain since this bottom, and is now trading back atop its 20-day moving average for the first time since early May.

Options traders are likely hoping to the stock resumes its longer-term downtrend, though. WYNN sports a 10-day put/call volume ratio of 0.85 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits in the 94th percentile of its annual range, suggesting a much healthier-than-usual appetite for bearish bets recently. 


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