Shopify Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been detected for Shopify (NYSE:SHOP), with a majority of investors taking a bearish stance. Whales have been targeting a price range from $45.0 to $60.0 for Shopify over the last 3 months. The price of SHOP is currently up 1.24% at $53.94. Seaport Global and JMP Securities have downgraded their ratings for Shopify, while Loop Capital has maintained their Hold rating.
October 17, 2023 | 6:46 pm
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NEUTRAL IMPACT
Shopify has seen unusual options activity, with a majority of investors taking a bearish stance. The stock is currently up 1.24% at $53.94. Analysts have mixed opinions, with downgrades from Seaport Global and JMP Securities, and a Hold rating from Loop Capital.
The unusual options activity, particularly the bearish stance taken by a majority of investors, could potentially impact Shopify's stock price. However, the current price is up, indicating a neutral short-term impact. The mixed analyst ratings further contribute to this uncertainty.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100