Nasdaq Rises Over 1%; US Inflation Rate Falls In June
Portfolio Pulse from Lisa Levin
US stocks traded higher with the Nasdaq Composite surging over 1%. The annual inflation rate in the US eased to 3% in June, the lowest level since March 2021. Healthcare Triangle, Inc. (HCTI), Ault Alliance, Inc. (AULT), and Recursion Pharmaceuticals, Inc. (RXRX) saw their shares rise significantly. Conversely, CBL International Limited (BANL), PainReform Ltd. (PRFX), and Katapult Holdings, Inc. (KPLT) experienced a drop in their share prices.
July 12, 2023 | 2:03 pm
News sentiment analysis
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NEGATIVE IMPACT
CBL International Limited shares dropped 47% after jumping over 12% on Tuesday.
The significant drop in the company's stock price could be due to profit-taking after the previous day's rise.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Katapult Holdings, Inc. was down, falling 28% after the company's board approved a 1-for-25 reverse stock split of common stock.
The company's stock price fell likely due to the dilution of shares caused by the reverse stock split.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of PainReform Ltd. were down 42% after the company reported pricing of $2.7 million concurrent registered direct offering and private placement.
The company's stock price fell likely due to the dilution of shares caused by the concurrent registered direct offering and private placement.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Shares of Ault Alliance, Inc. rose 56% after the company said it anticipates $200 million in annual revenue for 2023.
The company's positive revenue forecast for 2023 has likely boosted investor confidence, leading to a rise in its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Healthcare Triangle, Inc. shares rose 203% as the company launched an initiative to prevent ransomware attacks in the $35 billion healthcare data market.
The company's initiative to prevent ransomware attacks in the healthcare data market is a significant move that could potentially increase its market share and profitability, leading to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Recursion Pharmaceuticals, Inc. shares rose 74% after the company announced a collaboration and a $50 million investment from NVIDIA.
The company's collaboration with NVIDIA and the $50 million investment are likely to provide it with additional resources for growth and development, leading to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100