Spotify Technology Unusual Options Activity For July 18
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Spotify Technology (NYSE:SPOT) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 35% bullish and 64% bearish. The price range targeted by these investors for Spotify over the last 3 months is from $95.0 to $185.0. Wells Fargo, Raymond James, and Goldman Sachs have maintained their ratings on Spotify, while Morgan Stanley has downgraded its action to Overweight.
July 18, 2023 | 5:15 pm
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NEGATIVE IMPACT
Unusual options activity indicates a significant bearish stance on Spotify. This could potentially impact the stock's price in the short term.
The unusual options activity, particularly the bearish stance taken by a large investor, indicates that there may be a belief that Spotify's stock price will decrease. This could potentially lead to a self-fulfilling prophecy as other investors react to this activity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100