Nasdaq Down Over 100 Points; US Trade Deficit Shrinks In June
Portfolio Pulse from Lisa Levin
US stocks were lower with the Nasdaq Composite falling over 100 points. The US trade deficit shrank to a three-month low of $65.5 billion in June. Nuburu, Inc. (BURU), Vivos Therapeutics, Inc. (VVOS), and Bright Minds Biosciences Inc. (DRUG) saw their shares rise significantly. Proterra Inc. (PTRA) shares dropped after the company filed for Chapter 11 bankruptcy. SeaChange International, Inc. (SEAC) and Datasea Inc. (DTSS) also saw their shares fall.
August 08, 2023 | 1:51 pm
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NEGATIVE IMPACT
Datasea Inc. shares fell 32% after the company announced it entered into two separate subscription agreements to sell an aggregate of 4.8 million shares of common stock.
The announcement of the sale of a significant number of shares is likely to dilute the value of existing shares, which is likely to decrease investor confidence and drive the stock price down.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Proterra Inc. shares dropped 76% after the company announced it filed for Chapter 11 bankruptcy.
The announcement of Chapter 11 bankruptcy is a significant negative development for Proterra Inc., which is likely to decrease investor confidence and drive the stock price down.
CONFIDENCE 95
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
SeaChange International, Inc. shares fell 38% after the company announced voluntary SEC deregistration and Nasdaq delisting.
The announcement of voluntary SEC deregistration and Nasdaq delisting is a significant negative development for SeaChange International, Inc., which is likely to decrease investor confidence and drive the stock price down.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nuburu, Inc. shares rose 215% after announcing a contract with NASA.
The announcement of a contract with NASA is a significant positive development for Nuburu, Inc., which is likely to boost investor confidence and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Bright Minds Biosciences Inc. shares rose 95% after the company disclosed data for BMB-101.
The disclosure of positive data for BMB-101 is a positive development for Bright Minds Biosciences Inc., which is likely to boost investor confidence and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Vivos Therapeutics, Inc. shares rose 74% after falling more than 10% on Monday.
The significant rise in Vivos Therapeutics, Inc. shares indicates a recovery from the previous day's fall, which is likely to have a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100