Stocks Fight to End Quarter on High Note
Major Indexes are in the black midday
The Dow Jones Industrial Average (DJI) is fighting toward a close in positive territory, in what's on track to be its worst quarter ever. The blue chip is fending off this morning's triple-digit drop before the bell, while both the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are also modestly in the black. Some traders speculate on a buying boost due to the end of the first quarter.
Continue reading for more on today's market, including:
Amarin stock's worst day in years. Visa stock drops with consumer spending. Plus, NET's option volume surge; KRUS rising with potential funding; and the medtech name falling.
One stock seeing an options volume surge today is Cloudflare Inc (NYSE: NET), last seen 7.2% higher to trade at $25.62 at last check, earlier hitting a record peak of $26.28. So far the IT services and consulting company has seen 11,000 calls and 1,202 puts across the tape -- six times the usual daily volume. Most popular is the April 30 call, where new positions are being opened. Though the reason for the surge is unclear, the global cloud platform remains useful during the climate of remote work.
One stock moving up on the Nasdaq this morning is Kura Sushi USA Inc (NASDAQ: KRUS), up 17.3% to trade at $12.80 at last check. Though the reason for today's surge is unclear, earlier this month it was announced that the restaurant believes it will be able to obtain financial support from Kura, Japan, due to social distancing measures. However, KRUSis seeing pressure from its 30-day moving average and remains 51% lower year-to-date.
Meanwhile, towards the bottom of the New York Stock Exchange (NYSE) is Vapotherm Inc (NYSE: VAPO), down 8.4% to trade at $18.24 at last check. Though the reason for the drop is unclear, the medical equipment name is still up 113.8% for the month of March, with previous news the company is increasing their capacity due to the demand amid the COVID-19 pandemic.