Nebius Group NV (NASDAQ:NBIS) stock, which is one of Schaeffer's Top Stock Picks for 2025, is up 36.9% to trade at $87.69 at last glance. The tech company revealed it entered a $17.4 billion, five-year deal to supply AI infrastructure to Microsoft (MSFT), which may grow to $19.4 billion depending on demand.
NBIS is pacing for its best day on record, and earlier surged to an all-time high of $97.87 after bouncing off long-time support at the 40-day moving average. So far in 2025, NBIS has added 218.5%.
Short covering could account for some of today's surge. Short interest rose 16.6% over the last two reporting periods, and the 15.78 shares sold short now account for 8.1% of the stock's available float.
Options traders are chiming in, with 116,000 calls and 85,000 puts exchanged so far today, which is six times the volume typically seen at this point. The most active contract by far is the weekly 9/12 100-strike call, followed by the 85-strike put in that series, with positions being opened at both.
