Options Market Statistics: Nio's Stock Suffering Worst Day in 11 Months After Convertible Debt Offering, Options Pop
$NIO Inc.(NIO)$
Chinese electric-vehicle maker NIO said it was offering $1 billion of convertible bonds, joining other EV companies $Nikola (NKLA.US)$ and $Fisker (FSR.US)$ in raising funds in this manner.
Convertible bonds can be turned into shares in the company, potentially diluting existing holders of the stock but allowing the company to borrow money and lower interest rates than with standard corporate bonds.
$Intel(INTC)$
Intel said Tuesday that it plans to enhance its PC chips with artificial-intelligence capabilities in time for the holidays, highlighting that the hardware will allow users to better protect their data by keeping it local.
The new chips will allow AI inferencing on a device without needing a connection to the internet, Intel announced at the kickoff of its Innovation 2023 developer conference. Inferencing in AI is where a machine-learning model takes data it already has to make predictions or create a novel response, following a user's request.
$Pinterest, Inc.(PINS)$ shares rose by 3.19%, closing at $26.21. Its options trading volume is 0.24 million. Call contracts account for 57.2% of the whole trading volume. The most traded calls are contracts of $28 strike price that expire on September 22nd. The total volume reaches 15,704 with an open interest of 39,218. The most traded puts are contracts of a $25.5 strike price that expires on September 22nd; the volume is 12,297 contracts with an open interest of 571.
Speaking at Pinterest's first investor day, executives said they expect a compound annual growth rate over the next three to five years in the mid- to high teens, compared with guidance in the high single digits for the third quarter. Pinterest's sales grew less than 9% last year, and analysts are modeling 8% growth this year.
To get there, Pinterest rolled out new ad tools at its investor day, including integrations for $Salesforce (CRM.US)$'s Commerce Cloud and $Adobe (ADBE.US)$'s Commerce native applications. Pinterest also discussed its ongoing AI development.
@TigerStars @CaptainTiger @Daily_Discussion @TigerWire @Tiger_chat @Tiger_comments
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
