Spotlight on Marvell Tech: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Marvell Tech (NASDAQ:MRVL), as revealed by Benzinga's options scanner. The significant options activity includes 9 notable trades, with 55% of the sentiment being bearish. The stock is currently down by 3.2% at $69.59, and analysts have mixed ratings with a consensus target price of $93.2.
June 24, 2024 | 3:01 pm
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Marvell Tech (NASDAQ:MRVL) has seen a surge in bearish options activity, with 55% of the sentiment being bearish. The stock is currently down by 3.2% at $69.59. Analysts have mixed ratings with a consensus target price of $93.2.
The significant bearish options activity suggests that investors are expecting a decline in Marvell Tech's stock price. The current price drop of 3.2% and mixed analyst ratings further support a short-term negative outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100