Why Walgreens Shares Are Trading Lower By Over 9%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session
Portfolio Pulse from Lisa Levin
Several stocks experienced significant movement in Tuesday's mid-day session. Notable gainers included Tivic Health Systems, Black Diamond Therapeutics, and Centogene, which saw increases due to distribution agreements, promising clinical data, and joint ventures respectively. On the other hand, Adicet Bio, Siyata Mobile, and Lordstown Motors Corp were among the biggest losers, with drops due to disappointing clinical data, share offerings, and bankruptcy filings respectively. Walgreens Boots Alliance also saw a decrease after lowering its FY23 guidance.
June 27, 2023 | 5:56 pm
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NEGATIVE IMPACT
Adicet Bio dropped 53.2% after sharing disappointing safety and efficacy data from its Phase 1 study.
The disappointing safety and efficacy data is a negative development for Adicet Bio, potentially leading to unsuccessful clinical trials and lack of FDA approval.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Lordstown Motors Corp shares fell 31.3% after the company filed for Chapter 11 bankruptcy protection.
The bankruptcy filing is a negative development for Lordstown Motors Corp, indicating financial instability and potential loss for shareholders.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Siyata Mobile dipped 40% after pricing a 50 million share offering at $0.045 per share.
The share offering at a low price is a negative development for Siyata Mobile, potentially leading to dilution of existing shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Walgreens Boots Alliance dipped 9.2% after the company lowered its FY23 guidance.
The lowered FY23 guidance is a negative development for Walgreens Boots Alliance, indicating potential lower future earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Black Diamond Therapeutics surged 76.3% after announcing promising initial dose escalation data.
The promising initial dose escalation data is a positive development for Black Diamond Therapeutics, potentially leading to successful clinical trials and FDA approval.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Centogene rose 49% after forming a Saudi Arabian joint venture and receiving a $30 million loan.
The joint venture and loan are positive developments for Centogene, potentially leading to increased business opportunities and financial stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tivic Health Systems shares jumped 105% after signing a distribution agreement with Cardinal Health.
The distribution agreement with Cardinal Health is a positive development for Tivic Health Systems, likely leading to increased sales and revenue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100