BlackRock CEO Commits to Increasing Black Workforce

BLK is up 10% year-to-date

Deputy Editor
Jun 23, 2020 at 10:00 AM
facebook X logo linkedin

The shares of BlackRock, Inc. (NYSE:BLK) are up 1.1% at $559.23, after the company's CEO Larry Fink announced that it was committed to increasing its Black workforce. Fink said the asset management firm plans to increase its Black workforce by 30% by 2024, and double its current Black senior leadership to at least 6%.

On the charts, BLK hit a Feb. 12, two-year peak of $576.81, before pulling back to a four-year low near the $300 region just over a month later. In the time since, however, BlackRock stock has come within a chip-shot of its previous highs, consolidating below the $570 level. The stock is up 10% year-to-date, and has additional support from its 10-day moving average in place during the past few weeks.

In the options pits, BlackRock stock's 50-day call/put volume ratio of 1.05 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits higher than 75% of readings in its annual range. In other words, long calls are being ordered up at a quicker-than-usual rate.Analysts are also approaching BLK with ample optimism. Of the 11 in coverage, nine sport a "buy" or better, compared to just two "hold" ratings. Meanwhile, the security's 12-month consensus price target of $564.79 is a slim 2.1% premium to current levels. 

Still, short sellers are piling on the stock, with short interest up 48.1% in the last two reporting periods. The 2.71 million shares sold short now make up 1.8% of the stock's available float. It's also worth noting that BlackRock stock’s Schaeffer’s Volatility Index (SVI) of 33% sits in the 15th percentile of its 12-month range, meaning options players are pricing in relatively low volatility expectations at the moment.


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI