Dow Rises Over 100 Points; US GDP Grows 2% In Q1
Portfolio Pulse from Lisa Levin
US stocks traded higher with the Dow Jones gaining over 100 points. The US economy expanded by an annualized rate of 2% in Q1, higher than the 1.3% growth in the second estimate. Sigilon Therapeutics (SGTX) shares shot up 547% after Eli Lilly agreed to acquire the company. Shares of Eco Wave Power Global (WAVE) and Immunome (IMNM) also rose significantly. However, shares of BioXcel Therapeutics (BTAI), Greenlane Holdings (GNLN), and Mobiquity Technologies (MOBQ) fell.
June 29, 2023 | 2:10 pm
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POSITIVE IMPACT
Shares of Immunome rose 37% after the company reported a definitive merger agreement and a private placement investment of $125 million.
The merger agreement and private placement investment are positive developments for Immunome, leading to a rise in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Shares of Sigilon Therapeutics rose 547% after Eli Lilly agreed to acquire the company.
The acquisition agreement with Eli Lilly is a significant positive development for Sigilon Therapeutics, leading to a surge in its stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Shares of Eco Wave Power Global rose 42% after the company announced plans for a share repurchase program.
The announcement of a share repurchase program is a positive signal to investors, leading to a rise in Eco Wave Power Global's stock price.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of BioXcel Therapeutics dropped 58% after the company released topline results from a Phase 3 trial.
The release of topline results from a Phase 3 trial that did not meet expectations is a negative development for BioXcel Therapeutics, leading to a drop in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Shares of Greenlane Holdings fell 29% after the company announced a $4 million public offering.
The announcement of a $4 million public offering is a negative signal to investors, leading to a drop in Greenlane Holdings' stock price.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of Mobiquity Technologies fell 26% after the company reported pricing of a $3 million public offering of 30 million shares.
The pricing of a $3 million public offering is a negative signal to investors, leading to a drop in Mobiquity Technologies' stock price.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100