Software Stock Soars on Reported Buyout Interest

Group 1 - Dayforce Inc (NYSE:DAY) stock increased by 25.3%, trading at $66.24, following reports of private equity firm Thoma Bravo in talks to acquire the company, which is valued at $8.4 billion [1] - There is potential for a bidding war and other factors that could delay the deal [1] - The stock is trading at its highest level since February and is on track for its largest single-day percentage gain on record, breaking above the $60 level for the first time since March [2] Group 2 - Dayforce stock's short interest has increased by 24.2% in the last month, representing 4.8% of the stock's available float, which may be contributing to a short squeeze [2] - The stock's 14-day relative strength index (RSI) of 28 indicates it is in "oversold" territory, suggesting it was overdue for a short-term bounce [3] - Trading activity has significantly increased, with 2,032 calls and 1,772 puts exchanged, which is 18 times its average daily options volume [3]