Stocks are a mixed bag following last month's gains
Stocks are a mixed bag this afternoon, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) earlier touching fresh record highs as the latter jumps triple digits. The Dow Jones Industrial Average (DJI), on the other hand, is pulling back after its best month of 2024, down 101 points at last look. Investors are still unpacking this morning's economic data, after the ISM manufacturing index rose to 48.4 in November, above analysts' expectations of 47.5.
Continue reading for more on today's market, including:
- Retail stock rises on lofty bull note.
- CEO departure weighs on Stellantis stock.
- Plus, options bulls eye FSLY; NA jumps on Bitcoin buzz; and SAVA continues its fourth-quarter freefall.
Fastly (NYSE:FSLY) is one of the most heavily traded stocks amongst options bulls today, with 33,000 calls exchanged so far in comparison to 1,383 puts -- 6 time the average daily options volume. The weekly 12/6 10-strike call is the most popular, with new positions being bought to open. FSLY was last seen up 17.2% at $9.94, after Oppenheimer upgraded the stock to "outperform" from "perform" with a price target of $12, citing the IT name's positive outlook.
Nano Labs Ltd (NASDAQ:NA) stock is one of the top performers on the Nasdaq today, up 38.3% at $13.28 at last glance, after the semiconductor name announced a $50 million Bitcoin (BTC) purchase plan spanning five years. Now trading at its highest levels since April, NA is still down roughly 27% year to date.
Biotech stock Cassava Sciences Inc (NASDAQ:SAVA) is down 10% at $3.46 at last glance, trading at its lowest levels in five years, after news that shareholder rights advocates Levi & Korsinsky are investigating the company on possible fraud allegations. SAVA plummeted into penny stock territory earlier this month after its Alzheimer's drug flopped, and is down 88% since the start of the quarter.
