Domino's stock is brushing off an earnings miss
Domino's Pizza Inc (NASDAQ:DPZ) stock is brushing off a Q2 earnings miss thanks to better-than-expected revenue and encouraging growth comments from the CEO. Weak demand was overlooked as the pizza giant's supply chain business remained healthy. At last check, DPZ was up 6.5% at $343.00.
Today's pop is pushing the shares further from a June 23, six-year low of $282. Though DPZ just broke above pressure at the 80-day moving average, the 120-day trendline appears to be keeping a cap on gains. Year to date, the equity is down roughly 18%.
Short sellers were retreating ahead of the report. Over the past two weeks short interest has pulled back 15%, though it still accounts for 11% of the stock's available float.
Domino's stock has been seeing more bearish options attention than usual. This is per the 10-day put/call volume ratio of 1.02 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 84th percentile of its annual range.