Unilever Stock Surges on Activist Investor Buzz

The stock is rising from last week's annual low

Deputy Editor
Jan 24, 2022 at 3:31 PM
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Unilever N.V. (NYSE:UL) is brushing off the broad-market selloff today, up 8.4% at $53.44 at last check, amid news that activist investor Nelson Peltz's hedge fund Trian Partners has built stake in the company. Unilever stock plummeted last week, following a failed bid for GlaxoSmithKline's (GSK) consumer health business. In addition, there is word that the consumer goods name is planning thousands of management job cuts.

Despite today's pop, the security has not yet fully recovered from its Jan. 18 annual low of $46.07. Plus, the 120-day moving average is still pressuring shares lower. Year-over-date, UL carries a 10.5% deficit.

UL Jan 24

The stock's options pits are busy today. So far, 6,984 calls and 3,941 puts have crossed the tape, which is double the intraday average. The February 55 call is the most popular, followed by the 57.50 call in the same monthly series, with new positions being opened at the latter. 

It's also worth noting that the stock has undergone a bout of short-covering in the last couple of weeks. More specifically, short interest dropped 43.5% over the most recent reporting period.

 

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