Surge in Options Trading Volume for GameStop and Newmont
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Source: NASDAQ.COM
- GameStop Options Volume: GameStop Corp saw options trading volume of 110,203 contracts, representing approximately 11 million shares, which is about 110.4% of its average daily trading volume over the past month, indicating strong market interest in its future performance.
- High Demand for $30 Call Option: Notably, the $30 strike call option expiring on September 17, 2027, has seen 15,011 contracts traded today, equating to approximately 1.5 million shares, reflecting a significant bullish sentiment among investors regarding GameStop's stock price.
- Newmont Options Activity: Newmont Corp experienced options trading volume of 74,166 contracts, representing around 7.4 million shares, which is approximately 106.9% of its average daily trading volume over the past month, showcasing ongoing market interest in the company.
- Active Trading of $50 Call Option: The $50 strike call option expiring on June 18, 2026, has recorded a trading volume of 27,003 contracts, or about 2.7 million shares, indicating a positive outlook among investors for Newmont's future performance.
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Analyst Views on CAR
Wall Street analysts forecast CAR stock price to fall
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 174.880
Low
142.00
Averages
142.00
High
142.00
Current: 174.880
Low
142.00
Averages
142.00
High
142.00
About CAR
Avis Budget Group, Inc. is a provider of mobility solutions through its three brands, Avis, Budget and Zipcar, as well as several other brands. Its brands offer a range of options, from car and truck rental to car sharing. Its segments include Americas and International. The Americas segment consists primarily of vehicle rental operations in North America, South America, Central America and the Caribbean and operates car-sharing operations in certain of these markets. The International segment consists of vehicle rental operations in Europe, the Middle East, Africa, Asia and Australasia, and operates car-sharing operations in certain of these markets. The Avis brand provides vehicle rental and other mobility solutions at price points generally above non-branded and value-branded vehicle rental companies and serves the premium commercial and leisure segments of the travel industry. Its other brands include Payless, Apex, AmicoBlu, Maggiore, Morini Rent, FranceCars, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Offering Plan: Avis Budget Group intends to offer $300 million of additional 8.000% Senior Notes due 2031, subject to market and customary conditions, aimed at strengthening the company's capital structure.
- Use of Proceeds: The net proceeds from this offering will be used alongside cash on hand to redeem a portion of its 5.750% Senior Notes due 2027, thereby reducing the company's debt burden and optimizing its financial position.
- Regulatory Compliance: The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, ensuring compliance and mitigating legal risks.
- Global Business Overview: Avis Budget Group operates in approximately 180 countries with around 10,000 rental locations, leveraging its well-known brands to maintain a leading position in the mobility solutions market, showcasing significant market influence.
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- Clear Use of Proceeds: The net proceeds from this offering will be utilized to redeem a portion of its outstanding 5.750% Senior Notes due 2027, aimed at reducing financial costs and optimizing its debt structure, thereby improving the company's financial flexibility.
- Pricing Advantage: The new notes were priced at 100.500% of face value, reflecting market confidence in Avis Budget's creditworthiness while providing favorable financing conditions to support future growth.
- Long-term Debt Management: With a maturity date set for 2031, this issuance indicates the company's strategic planning in long-term debt management, aiming to alleviate short-term repayment pressures and enhance financial stability.
See More
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- Use of Proceeds: The net proceeds from this offering will be used to redeem a portion of its 5.750% Senior Notes, indicating the company's strategic intent to optimize its capital structure and reduce financial costs.
- Pricing Details: The new notes were priced at 100.500% of face value, reflecting market recognition of the company's creditworthiness and establishing a solid foundation for future financing activities.
- Compliance and Market Positioning: The notes are being offered only to qualified institutional buyers in compliance with Rule 144A of the Securities Act, highlighting the company's focus on regulatory compliance and its professional positioning in the capital markets.
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- Stock Price Plunge: Shares of Verra Mobility nosedived over 71% on Wednesday, hitting a record low, as multiple analysts cut price targets, with Morgan Stanley lowering its target from $15 to $4, reflecting a pessimistic outlook on the company's future.
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- Revised Outlook: Verra Mobility revised its full-year 2026 revenue outlook down from $1.02 billion to $1.03 billion to a range of $985 million to $995 million, with adjusted earnings per share expectations also lowered from $1.32 to $1.38 to $1.19 to $1.25, indicating increased financial pressure on the company.
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- Financing Plan: Avis Budget Group intends to issue $300 million of 8.000% Senior Notes through its wholly owned subsidiaries, expected to close by November 22, 2023, as additional notes under a prior $500 million issuance, demonstrating the company's proactive approach to capital markets.
- Use of Proceeds: The net proceeds from this note offering will be used alongside existing cash to redeem a portion of its 5.750% Senior Notes due 2027 and cover associated fees, aiming to optimize its capital structure and reduce interest expenses.
- Market Reaction: Despite market volatility, Avis Budget Group's financing plan reflects its flexibility and responsiveness in the current economic environment, potentially boosting investor confidence in its future financial health.
- Strategic Implications: This financing not only improves Avis Budget Group's debt structure but also provides funding for future expansions and investments, further solidifying its market position in the car rental industry.
See More
Avis Budget Group Plans $300 Million Senior Notes Offering
- Offering Plan: Avis Budget Group intends to offer $300 million of additional 8.000% Senior Notes due 2031, subject to market and customary conditions, aimed at strengthening the company's capital structure.
- Use of Proceeds: The net proceeds from this offering will be used alongside cash on hand to redeem a portion of its 5.750% Senior Notes due 2027, thereby reducing the company's debt burden and optimizing its financial position.
- Regulatory Compliance: The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, ensuring compliance and mitigating legal risks.
- Global Business Overview: Avis Budget Group operates in approximately 180 countries with around 10,000 rental locations, leveraging its well-known brands to maintain a leading position in the mobility solutions market, showcasing significant market influence.
See More
Avis Budget Group Prices $300 Million Senior Notes Offering
- Offering Size: Avis Budget Group successfully priced a $300 million offering of 8.000% Senior Notes through its wholly-owned subsidiaries, with the closing expected on May 29, 2023, enhancing its capital structure.
- Clear Use of Proceeds: The net proceeds from this offering will be utilized to redeem a portion of its outstanding 5.750% Senior Notes due 2027, aimed at reducing financial costs and optimizing its debt structure, thereby improving the company's financial flexibility.
- Pricing Advantage: The new notes were priced at 100.500% of face value, reflecting market confidence in Avis Budget's creditworthiness while providing favorable financing conditions to support future growth.
- Long-term Debt Management: With a maturity date set for 2031, this issuance indicates the company's strategic planning in long-term debt management, aiming to alleviate short-term repayment pressures and enhance financial stability.
See More
Avis Budget Group Prices $300 Million Senior Notes Offering
- Offering Size: Avis Budget Group announced a private offering of $300 million in 8.000% Senior Notes, expected to close on May 29, 2026, demonstrating the company's strong capital market capabilities and confidence.
- Use of Proceeds: The net proceeds from this offering will be used to redeem a portion of its 5.750% Senior Notes, indicating the company's strategic intent to optimize its capital structure and reduce financial costs.
- Pricing Details: The new notes were priced at 100.500% of face value, reflecting market recognition of the company's creditworthiness and establishing a solid foundation for future financing activities.
- Compliance and Market Positioning: The notes are being offered only to qualified institutional buyers in compliance with Rule 144A of the Securities Act, highlighting the company's focus on regulatory compliance and its professional positioning in the capital markets.
See More
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- Client Loss Impact: The termination of the contract with Avis is expected to reduce Verra Mobility's Commercial Services annualized revenue by approximately $135 million to $145 million and segment profit by $120 million to $125 million in 2026, significantly undermining the company's revenue outlook and market confidence.
- Stock Price Plunge: Shares of Verra Mobility nosedived over 71% on Wednesday, hitting a record low, as multiple analysts cut price targets, with Morgan Stanley lowering its target from $15 to $4, reflecting a pessimistic outlook on the company's future.
- Rating Downgrade: William Blair downgraded Verra's rating from 'Outperform' to 'Market Perform,' noting that the loss of Avis is a major blow to Verra's rental car tolling business, which carries a 65% EBITDA margin, suggesting the stock may remain range-bound over the next 12 months.
- Revised Outlook: Verra Mobility revised its full-year 2026 revenue outlook down from $1.02 billion to $1.03 billion to a range of $985 million to $995 million, with adjusted earnings per share expectations also lowered from $1.32 to $1.38 to $1.19 to $1.25, indicating increased financial pressure on the company.
See More
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- Airline Stocks Rise: Shares of airlines surged as oil prices fell nearly 4%, with United Airlines gaining 7% and Delta Air Lines up 4%, indicating potential profitability improvements for airlines amid reduced cost pressures.
- Telecom Infrastructure Surge: Dycom Industries saw a stock increase of about 30% after raising its full-year outlook, projecting contract revenue between $7.38 billion and $7.65 billion, and enhancing its data center capabilities through the acquisition of National Technology Integrators.
- Cloud Security Decline: Zscaler's shares tumbled over 30% after guiding for current-quarter revenue below analyst expectations, despite beating third-quarter adjusted earnings forecasts, reflecting market concerns about its future growth trajectory.
- Retail Stock Gains: Bath & Body Works shares rose 12% after forecasting second-quarter earnings per share between 20 to 25 cents, exceeding analyst expectations, which indicates strong consumer demand and improved profitability for the company.
See More
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- Financing Plan: Avis Budget Group intends to issue $300 million of 8.000% Senior Notes through its wholly owned subsidiaries, expected to close by November 22, 2023, as additional notes under a prior $500 million issuance, demonstrating the company's proactive approach to capital markets.
- Use of Proceeds: The net proceeds from this note offering will be used alongside existing cash to redeem a portion of its 5.750% Senior Notes due 2027 and cover associated fees, aiming to optimize its capital structure and reduce interest expenses.
- Market Reaction: Despite market volatility, Avis Budget Group's financing plan reflects its flexibility and responsiveness in the current economic environment, potentially boosting investor confidence in its future financial health.
- Strategic Implications: This financing not only improves Avis Budget Group's debt structure but also provides funding for future expansions and investments, further solidifying its market position in the car rental industry.
See More
