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Fly News Breaks for May 29, 2019
May 29, 2019 | 09:16 EDT
Nomura Instinet analyst Jialong Shi upgraded YY (YY) to Buy from Neutral while lowering his price target for the shares to $77 from $81. The risk/reward is more favorable with the stock down 27% from its recent peak, Shi tells investors in a research note. The analyst thinks the current market volatility, triggered by macro concerns, may benefit "cheap stocks with macro-defensive businesses" such as YY and Momo (MOMO).
News For YY;MOMO From the Last 2 Days
Aug 23, 2019 | 13:45 EDT
Bullish option flow detected in Momo with 2,032 calls trading, 2x expected, and implied vol increasing over 2 points to 72.72%. Sep-19 35 calls and 8/30 weekly 27 puts are the most active options, with total volume in those strikes near 960 contracts. The Put/Call Ratio is 0.55. Earnings are expected on August 27th.