General Motors Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance on General Motors (NYSE:GM) has been observed, with unusual options activity. The sentiment among big-money traders is split between 26% bullish and 73% bearish. Whales have been targeting a price range from $35.0 to $35.0 for GM over the last 3 months. The price of GM is currently down -2.35% at $36.22. Wells Fargo and Citigroup have maintained their Underweight and Buy ratings on GM respectively, while Benchmark has downgraded its action to Buy.
August 08, 2023 | 2:16 pm
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NEGATIVE IMPACT
Unusual options activity has been observed for General Motors, with a significant bearish stance. The current price of GM is down -2.35% at $36.22. Analysts have mixed ratings on GM.
The unusual options activity, particularly the bearish stance, indicates that there may be a negative sentiment towards GM. This, coupled with the current price drop, suggests a potential short-term negative impact on the stock. The mixed analyst ratings further add to the uncertainty around the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100