The Dow is looking at a 160-point pop midday
The major indexes are extending this morning's gains into midday in an attempt to claim even more record highs before the end of the year. The Dow Jones Industrial Average (DJI) is up roughly 160 points, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) remain modestly in the black as well. Wall Street is still keeping an eye on vaccine headlines, while potential stimulus updates are in investors' periphery as well, with COVID-19 cases continuing to spike.
Continue reading for more on today's market, including:
- The blue-chip stock named Baird's 2021 top idea.
- Is Levi stock getting ready for a rebound?
- Plus, BILI stock bombarded by bulls; blockchain collaboration boosts IPDN; and JRJC crumbles after unaudited earnings report.
China-based tech name Bilibili Inc (NASDAQ:BILI) is seeing a notable amount of option activity today. So far, more than 36,000 calls and over 7,000 puts have crossed the tape, which is three times the average intraday amount. Most popular is the January 2021 110-strike call, followed by the 95-strike call in the same series. The equity was last seen up 13.2% to trade at $93.30, though a catalyst remain unclear. Regardless, today's pop puts BILI at a fresh all-time high, and at an impressive 398.4% year-to-date lead.
Professional Diversity Network, Inc. (NASDAQ:IPDN) is by far the best performing stock on the Nasdaq today, up no less than 151.4% at $3.45 at last check, following an announcement that the online networking concern would partner with Phala Network to develop a privacy-protecting blockchain app. This partnership could strengthen IPDN's delivery rate and better protect users against data mining. The equity earlier touched a three-year high of $5.56, after clearing the 320-day moving average and pacing for its second close north of this trendline in four months.
One of the worst names on the Nasdaq, meanwhile, is China Finance Online Co. (NASDAQ:JRJC). The security is down 24.5% at $8.30, after reporting unaudited financial results for the third quarter, as well as the first nine months of 2020. While the firm's third-quarter revenue rose by 32.9%, it also posted quarterly losses of 66 cents per share. This nosedive comes one day after JRJC posted a 29.8% pop -- marking its best day in months. While the security is down 4.5% in 2020, the 180-day moving average remains as a source of support.