Shopify Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on Shopify (NYSE: SHOP) with 72% of detected unusual options trades being bearish. The price of SHOP is down 1.28% at $60.07. Analysts have mixed ratings on the stock, with price targets ranging from $45 to $80.
May 19, 2023 | 5:46 pm
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NEGATIVE IMPACT
A whale has taken a bearish stance on Shopify (NYSE: SHOP) with 72% of detected unusual options trades being bearish. The price of SHOP is down 1.28% at $60.07. Analysts have mixed ratings on the stock, with price targets ranging from $45 to $80.
The bearish stance taken by a whale with a significant amount of money to spend on Shopify options indicates a potential short-term negative impact on the stock price. Additionally, the mixed analyst ratings and price targets suggest uncertainty in the market, which could contribute to the stock's downward pressure.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100