The Dow and Nasdaq are both down triple digits
The Dow Jones Industrial Average (DJI) is headed for another sharp triple-digit drop to end the week, weighed down by the Department of Justice's (DoJ) investigation into UnitedHealth (UNH). The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly lower as well, as investors unpack the University of Michigan's weaker-than-expected consumer sentiment reading, which showed consumer confidence dropping to 64.7 -- its lowest level since November 2023.
Continue reading for more on today's market, including:
- Celsius stock soars on upbeat earnings.
- Low delivery expectations weighs down EV stock.
- Plus, options traders target HIMS; SEI swings to record highs; and BLUE goes private.
Hims & Hers Health Inc (NYSE:HIMS) is down 18.3% today, falling further from Wednesday's record highs, after news that there is no longer a shortage of Novo Nordisk's (NVO) weight-loss drugs Wegovy and Ozempic. Options traders are blasting HIMS in response, with 206,000 calls and 187,000 puts exchanged so far, which is 6 times its average daily options volume already. The February 55 call is the most popular, where new positions are being sold to open. Over the past 12 months, HIMS has charged 472% higher.
The New York Stock Exchange's (NYSE) Solaris Energy Infrastructure Inc (NYSE:SEI) is up 29.1% at $37.87 at last glance, trading at record highs and eyeing its best daily pop since July, after upbeat fourth-quarter results. The company reported revenue of $96 million, a large 28% increase from the third quarter. Year over year, the equity is up 381%, with help from its November rally.
Bluebird Bio Inc (NASDAQ:BLUE) is one of the worst performers on the Nasdaq, last seen down 38.2% at $4.34, dropping into penny stock territory for the first time ever. This slide comes after the gene therapy company agreed to be taken private by Carlyle and SK Capital for a heavy discount to survive financial difficulties. Since last February, the shares are down 81.6%.