Canada Goose Stock Gets Cooked After Double Downgrade

The analyst worried that a warmer start to the winter would hurt sales

Digital Content Manager
Nov 25, 2020 at 10:25 AM
facebook X logo linkedin


The shares of Canada Goose Holdings Inc (NYSE:GOOS) are struggling, following a double downgrade from BTIG to "sell" from "buy." The analyst cites a potentially difficult holiday season, with a warmer start to the winter deterring shoppers from buying the company's down coats and other cold-weather items. At last check GOOS is down 8.4% at $35.39. 

This comes one day after Canada Goose stock surged toward a fresh annual high of $39.23 -- piggybacking off a bull note from TD Securities. Prior to this, the security had  been consolidating just below the $36 level, which is, once again, acting as a ceiling on the charts. GOOS is struggling just below its year-over-year breakeven, though it sports a six-month gain of 68.4%.

Options bears are likely cheering today's drop, since in the options pits, puts are king. This is per GOOS' 10-day put/call volume ratio of 1.43 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 90% of readings from the past year, indicating a healthier-than-usual appetite for  long puts of late. 

This pessimism is carrying over into today's trading. Within the first hour, 902 calls and 1,649 puts have exchanged hands -- nine times the intraday average. The weekly 11/27 38.50-strike  put is the most popular, followed by the weekly 12/4 39.50-strike put. 

 

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