The Dow Jones Industrial Average (DJI) is down 295 points at midday, as both the blue-chip index and the S&P 500 Index (SPX) distance themselves from record levels. The Nasdaq Composite (IXIC) is firmly in the red as well, with investors eyeing worse-than-expected retail sales data, which showed a 1.1% drop in July. Concerns over the spread of the Covid-19 delta variant are prevalent as well, with this week's economic data out of both the U.S. and China suggesting the economy could be losing steam.

Root Inc (Nasdaq: ROOT) is seeing a surge in bullish options volume today. So far, 30,000 calls have already crossed the tape, which is eight times the intraday average. The March 2022 5-strike call is the most popular by far, with new positions being opened there. The equity is up 2.7% to trade at $5.64 at last check, despite wider-than-expected second-quarter losses. Plus, Truist Securities downgraded the stock to "hold" from "buy," while Wells Fargo lowered its rating to "equal weight" from "overweight." In total, ROOT received three price-target cuts as well. Over the last nine months, the equity has shed 70.9%.

One of the top performers on the Nasdaq today is Global-E Online Ltd (Nasdaq: GLBE). Publicly traded since May, the equity was last seen up 10.5% at $75.42, after earlier surging to an all-time high of $79.50, following an upbeat second-quarter earnings report and full-year revenue forecast. In response, Jefferies, Raymond James, and Piper Sandler all raised their price targets to $80, while Morgan Stanley also threw in a price-target hike to $83 from $42. In the last three months, GLBE has added a whopping 184.5%.

Meanwhile, falling on the New York Stock Exchange (NYSE:) is Lightning eMotors Inc (NYSE: ZEV). The security was last seen down 13.2% to trade at $8.35, after wider-than-expected second-quarter losses, due to production disruptions and delays. The $8 level appears to have contained today's pullback, and several short-term trendlines hovering just below could potentially provide support as well -- including the 60- and 80-day moving averages. Year-to-date, the equity is down 37%.