The Dow is down 57 points midday
Stocks are moving quietly today as trading resumes after the Presidents' Day holiday, though the S&P 500 Index (SPX) is inching very close to its January record highs. The three major benchmarks are all fresh off weekly wins -- the Nasdaq's best since early December, while investors eye global trade tensions. At last look, the Dow Jones Industrial Average (DJI) was down 57 points, while the Nasdaq Composite (IXIC) and SPX sit just above fair value.
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Options bears are targeting Bumble Inc (NASDAQ:BMBL) ahead of the company's fourth-quarter earnings report, due out after the close today. So far, 36,000 puts have been exchanged in comparison to just 2,781 calls, with overall options volume already 20 times over the average daily amount. The February 7 put is the most popular, where new positions are being opened. At last check, BMBL was down 2.1% at $8.28. Recently, the 120-day moving has helped capture pullbacks at the $7.50 region.
Biotech stock Solid Biosciences Inc (NASDAQ:SLDB) was last seen at the top of the Nasdaq, up 47.8% at $5.95, breaking out of penny stock territory for the first time since December after positive early-stage trial data for its DMD gene therapy SGT-003. Removing itself from a recent 52-week low of $2.88 on Feb. 7, the shares are still down 40.7% year over year.
Software stock Cyngn Inc (NASDAQ:CYN) is near the bottom of the Nasdaq, down 34.2% at $9.12, after the company announced a 150-for-1 reverse stock split. On track for its fifth-straight loss, CYN is down a staggering 92.7% since the start of 2025, and recently hit a Feb. 7 record low of $8.55.