Equities

Dell's Record Surge, Ulta's Plunge, and Pot Stocks' High

Dell soars to record high with 68% growth in 2024, while Ulta faces demand woes and pot stocks rally on legalization hopes.

By Bill Bullington

4/3, 19:57 EDT
Apple Inc.
Antero Resources Corporation
Dell Technologies Inc.
Marathon Petroleum Corporation
Southwestern Energy Company
Targa Resources, Inc.
Ulta Beauty, Inc.
Valero Energy Corporation
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Dell Hits All-Time High, Ulta Slumps, Pot Stocks Surge, and Apple Options Insight

After-hours Stock Action

Dell Technologies (DELL): Record-Breaking Performance

  • Stellar Growth: Up 68% in 2024, closed at an all-time high of $128.58 today.
  • Analyst Sentiment: Average price target at $126.85; majority of analysts maintain buy ratings.

Ulta Beauty (ULTA): Beauty Demand Slowdown

  • Market Reaction: Worst day since March 2020 after CEO warns of slowing beauty product demand.
  • Stock Performance: Down nearly 25% from all-time high; e.l.f. and Coty also affected negatively.

Pot Stocks Rally on Legalization Optimism

  • Positive News Impact: Florida Supreme Court clears path for cannabis vote; federal optimism boosts stocks like Tilray (+65% in a month).
  • Recovery Path: Despite gains, some like Canopy Growth, SNDL, Cronos Group still below 52-week highs.

Sectors We Are Watching

Natural Gas Sector Dynamics

  • Oversupply Woes: Major U.S. natural gas field selling at a loss; Antero Resources up by 29%, Southwestern Energy up by 16.5% YTD.

Energy Sector Records New Highs

  • S&P Energy Index hits new record since June 2014 with Marathon Petroleum (+45%), Valero (+38.7%), Targa Resources (+33.5%) leading the pack.

Apple Options Market Analysis

  • Apple (AAPL) Overview: Down about 12% YTD and off by15% from the mid-December high.
  • Options Insights: Perceived risk low for big drop among traders but not significant bullish activity currently observed.