Intel Stock Slides On Disappointing Forecast

Analysts are still dramatically bearish on INTC, with 20 of the 23 in coverage carrying a «hold» or worse rating. Amid a broader market pullback, Spotify lost more than $20 billion in market Day trading cap last week, already shedding nearly 19% in the first month of 2022. Over the last year, SPOT has turned in just three positive monthly returns, resulting in a 42% year-over-year deficit.

Ahead of today’s coverage, the brokerage bunch was extremely optimistic on Spotify stock. In fact, 12 of the 18 covering analysts rated the equity a «buy» or better, while six still carried a tepid «hold,» coming into today. Plus, the 12-month consensus price target of $298.62 is a 64.8% premium to current levels. Options traders have been quick to the draw this morning, with options volume running at four times what’s typically seen at this point, and pacing for the top percentile of its annual range. More specifically, 203,000 calls and 123,000 puts have crossed the tape so far. The April 60 call is the most popular, followed by the 52.50 call in the same monthly series, with new positions being opened at the latter.

Intel Stock Slides On Disappointing Forecast

However, familiar support at the $48 level appears to be keeping today’s losses in check. Longer term, itrader the equity has been falling since the 260-day moving average kept a lid on its mid-January rally.

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