Robinhood Markets Inc (NASDAQ:HOOD) is comfortably in the black this morning, last seen up 0.7% at $98.80 after announcing it will be laying off roughly 10% of its workforce. The initial financial hit for this process will be around $28 million.
HOOD yesterday gapped higher to a fourth-straight daily pop, its breakout thwarted by the round $100 mark. The equity is also facing off with the overhead 200-day moving average and is looking to shave off some of its 13.2% year-to-date deficit.
Short interest has been inching higher, up 4% in the two most recent reporting periods. This accounts for 4.4% of the stock's available float and would take less than two days for short sellers to buy back.
Bulls are circling the investing platform. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), HOOD's 50-day call/put volume ratio of 3.36 ranks in the 100th annual percentile.
Premium is affordably priced at the moment, too. This is per the stock's Schaeffer’s Volatility Index (SVI) of 63% that stands in the 27th percentile of its annual range.
