Farfetch, Faraday Future Intelligent Electric, VinFast And Other Stocks Moving Lower On Friday
Portfolio Pulse from Lisa Levin
Several US stocks traded down, with Farfetch Ltd, Faraday Future Intelligent Electric Inc, TriSalus Life Sciences Inc, Beneficient, Pharvaris NV, VinFast Auto, Genelux Corp, Nautilus Biotechnology Inc, VNET Group Inc, Jiayin Group Inc, and TMC The Metals Company Inc all recording losses. Factors contributing to the decline include soft quarterly results, weak guidance, exit from the beauty category, delivery of first EV for the ultra-luxury market, concerns over further interest rate hikes by the Federal Reserve, and second-quarter results.
August 18, 2023 | 3:46 pm
News sentiment analysis
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NEGATIVE IMPACT
Beneficient's stock plunged 4.52%.
The article does not provide specific reasons for the decline in Beneficient's stock, but the overall market sentiment appears to be negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Faraday Future Intelligent Electric Inc's stock declined by 4.83% after the company delivered its first EV for the ultra-luxury market.
The delivery of the company's first EV for the ultra-luxury market may have led to concerns about the company's ability to compete in this niche market, leading to a decline in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Farfetch Ltd's stock tanked 5.32% due to soft quarterly results, weak guidance, and its exit from the beauty category.
The company's soft quarterly results and weak guidance, coupled with its exit from the beauty category, have negatively impacted investor sentiment, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Genelux Corp's stock traded lower by 3.44% following the release of second-quarter results.
The company's second-quarter results may have disappointed investors, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Jiayin Group Inc's stock slid 1.87% after the company reported its second-quarter results last week.
The company's second-quarter results may have disappointed investors, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Shares of Nautilus Biotechnology Inc fell 3.38%.
The article does not provide specific reasons for the decline in Nautilus Biotechnology Inc's stock, but the overall market sentiment appears to be negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Shares of Pharvaris NV fell 3.74%.
The article does not provide specific reasons for the decline in Pharvaris NV's stock, but the overall market sentiment appears to be negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
TriSalus Life Sciences Inc's shares fell 4.74% due to concerns over further interest rate hikes by the Federal Reserve.
Concerns over further interest rate hikes by the Federal Reserve have negatively impacted investor sentiment, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Shares of TMC The Metals Company Inc declined by 1.65%.
The article does not provide specific reasons for the decline in TMC The Metals Company Inc's stock, but the overall market sentiment appears to be negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
VinFast Auto's shares tanked 3.65% after the massive spike in the Vietnamese EV maker's stock during its debut on Tuesday.
After the massive spike in the stock during its debut, a correction seems to have occurred, leading to a decline in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
VNET Group Inc's stock declined by 2.95% after falling 0.65% in pre-market trading.
The stock's decline in pre-market trading may have continued into the regular trading session, leading to a further drop in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100