Dow Turns Lower; KULR Technology Group Shares Plummet
Portfolio Pulse from Lisa Levin
U.S. stocks traded mixed with the Dow Jones falling 100 points. The annual inflation rate in the U.S. rose for a second consecutive month to 3.7% in August. HireRight Holdings Corporation (HRT) shares shot up 13% after announcing a $25 million share repurchase program. Rocket Pharmaceuticals (RCKT) shares shot up 37% after alignment with the FDA on a global Phase 2 pivotal trial. DZS Inc. (DZSI) shares were up 28% after securing $29.7 million in financing. Eiger BioPharmaceuticals (EIGR) shares dropped 39% after discontinuing a Phase 3 study. Calidi Biotherapeutics (CLDI) shares were down 46% following the company’s public debut. KULR Technology Group (KULR) shares fell 31% after reporting pricing of a public offering of common stock.
September 13, 2023 | 7:05 pm
News sentiment analysis
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NEGATIVE IMPACT
Calidi Biotherapeutics shares were down 46% following the company’s public debut.
Shares often experience volatility following a company's public debut as the market determines the appropriate price for the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Eiger BioPharmaceuticals shares dropped 39% after discontinuing a Phase 3 study.
Discontinuing a drug trial often leads to a decrease in the stock price as it represents a setback in the company's path to potential revenue from the drug.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
KULR Technology Group shares fell 31% after reporting pricing of a public offering of common stock.
Public offerings often lead to a decrease in the stock price as they increase the number of shares outstanding, thereby diluting earnings per share.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
DZS Inc. shares were up 28% after securing $29.7 million in financing.
Securing financing often leads to an increase in the stock price as it provides the company with the necessary funds to grow and expand its operations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
HireRight Holdings Corporation shares shot up 13% after announcing a $25 million share repurchase program.
Share repurchase programs often lead to an increase in the stock price as they reduce the number of shares outstanding, thereby increasing earnings per share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Rocket Pharmaceuticals shares shot up 37% after alignment with the FDA on a global Phase 2 pivotal trial.
Positive regulatory news, especially related to drug trials, often leads to an increase in the stock price as it brings the company closer to potential revenue from the drug.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100