The market is fighting to hold on to its first weekly gains of September
The Dow Jones Industrial Average (DJI) is marginally lower midday, as investors keep a look out for today's quadruple witching volatility. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also in the red, with all three benchmarks fighting to hold on to their first weekly gains of September. The tech sector is once again weighing on the market, while mixed sentiment still lingers around Congress' second stimulus bill as well as the coronavirus vaccine.
Continue reading for more on today's market, including:
- This social media name is in focus amid TikTok buzz.
- Lowe's stock moves lower on analyst note.
- Plus, toy giant sees options surge; Bloom Energy stock soars; and ONEW falls on share offering.
One stock seeing notable options activity is Mattel Inc (NASDAQ:MAT), up 0.4% at $11.91 at last check. So far, 14,000 puts have crossed the tape -- 10 times what's typically seen at this point and volume pacing for the 99th percentile of the annual range. New positions are being opened at the weekly 9/25 10.50-strike call, so buyers of these puts are banking on a pullback from MAT in the next week, when the contracts expire.
One stock scaling the New York Stock Exchange (NYSE) today is Bloom Energy (NYSE:BE), up 15.1% at $16.75 at last check, after Morgan Stanley hiked its price target to $23 from $21. Up 310.5% in the last six months, the stock has staged an impressive 3222% rally from its March lows around $3.50.
Meanwhile, dropping lower is OneWater Marine Inc (NASDAQ:ONEW), last seen down 8.8% at $20.21, after Goldman Sachs offloaded shares amid ONEW's common stock offering. Falling lower on the charts lately, the boat retailer has shed 28% in September alone, despite a 46.4% year-to-date lead.
