Dow Jumps Over 100 Points; US Small Business Optimism Index Tops Estimates
Portfolio Pulse from Lisa Levin
US stocks traded mostly higher with the Dow up 0.40% and the NASDAQ up 0.23%. The NFIB Small Business Optimism Index rose to a seven-month high of 91 in June. CytoMed Therapeutics, Adial Pharmaceuticals, and Better Therapeutics saw significant stock increases, while Siyata Mobile, ADC Therapeutics, and DSS, Inc. experienced drops. The US continues to lead in COVID-19 cases and deaths.
July 11, 2023 | 1:48 pm
News sentiment analysis
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POSITIVE IMPACT
Shares of Adial Pharmaceuticals got a boost, shooting 51% higher after the company issued a business update following favorable comments from US and EU regulatory meetings.
Adial Pharmaceuticals' share price increase is likely due to positive feedback from regulatory meetings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Better Therapeutics shares were up 41% after the FDA approved the company's AspyreRx, a prescription-only digital treatment for type 2 diabetes.
The increase in Better Therapeutics' share price is likely due to the FDA approval of its new product.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
CytoMed Therapeutics shares shot up 123% after gaining 9% on Monday.
The significant increase in CytoMed Therapeutics' share price is likely due to positive market sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of ADC Therapeutics were down 20% after the company paused enrollment in Phase 2 LOTIS-9 trial of Zynlonta and rituximab.
The decrease in ADC Therapeutics' share price is likely due to the company's decision to pause enrollment in its Phase 2 trial.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
DSS, Inc. was down, falling 16% after DSS Wealth, Inc., a wholly owned subsidiary of DSS, Inc, recently named Daniel Lew as Chief Investment Officer and Portfolio Manager.
The decrease in DSS, Inc.'s share price is likely due to the recent appointment of a new CIO and Portfolio Manager.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Siyata Mobile shares dropped 23% after the company reported pricing of $2.3 million registered direct of 51,450,000 common shares for $0.045 per share.
The drop in Siyata Mobile's share price is likely due to the company's pricing of its registered direct.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100