This Is What Whales Are Betting On Shopify
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Shopify (NYSE:SHOP) by a large investor, as indicated by unusual options trading activity. The sentiment among these big-money traders is 70% bearish and 30% bullish. The targeted price range for Shopify over the last 3 months has been $50.0 to $70.0. The current trading volume is 5,646,259, with the price at $62.08, up by 0.63%.
November 08, 2023 | 6:01 pm
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A large investor has taken a significant bearish stance on Shopify, as indicated by unusual options trading activity. The sentiment among these big-money traders is 70% bearish and 30% bullish.
The bearish stance taken by a large investor, as indicated by the unusual options trading activity, suggests that there is a belief that Shopify's stock price will decrease. This is further supported by the 70% bearish sentiment among big-money traders. Therefore, it is likely that Shopify's stock price will be negatively impacted in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100