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Dine-in restaurants reopened at 25% capacity in New York over the weekend, and analysts are expecting a sharp rebound in struggling restaurant stocks this year.
Danielle Shay, director of options at Simpler Trading, said Friday that one restaurant stock to watch in the near-term is short squeeze candidate
Jack in the Box Inc. (NYSE: JACK).
Watching Jack In The Box: The WallStreetBets-fueled
GameStop Corp. (NYSE: GME) short squeeze has traders looking for short squeeze opportunities elsewhere. Shay told CNBC that Jack in the Box could be the best potential short squeeze play in the restaurant group.
“I like Jack in the Box here, but for a short-term options trade. Jack in the Box is right up near previous all-time highs. It has high short interest. Normally I don’t like trading tickers near highs, but with something like this that has high short interest it does have the potential for a short squeeze,” Shay said.
Oil futures reach 13-month high as global stocks advance with U.S. markets closed. SP 500 futures hit record high, oil soars as frozen chaos hits plains states.
Here is the current market situation from CNN Money
European markets are broadly higher today with shares in London leading the region. The FTSE 100 is up 1.93% while France s CAC 40 is up 0.60% and Germany s DAX is up 0.33%.
What Is Moving the Markets
Here are the headlines moving the markets.
5 Companies Betting Big On Futuristic Energy Tech With the clean energy shift beginning to gain serious momentum, the prime candidates for a sustainable future have been solar, wind, and to a lesser extent, geothermal energy and nuclear fission. But new clean energy technology is drawing interest from both corporate investors and retail investors, and what we consider fringe today, such as ocean power and hydrogen, may become mainstream sooner rather than later. In fact, Bloomberg New Energy Finance has warned that we may ne
Rising short interest in Jack in the Box could be setting the stock up for a short squeeze as it heads into earnings, says Danielle Shay of Simpler Trading.