Dow Jumps Over 200 Points; US Producer Prices Rise In August
Portfolio Pulse from Lisa Levin
US stocks traded higher following the release of PPI data, with the Dow, NASDAQ, and S&P 500 all seeing gains. Energy shares jumped by 1.4%, while consumer discretionary shares fell by 0.1%. US producer prices rose by 0.7% in August 2023, higher than the expected 0.4% increase. Shares of First Wave BioPharma, PFSweb, and TradeUP Acquisition Corp. saw significant increases, while shares of Sezzle, Clearmind Medicine, and BIOLASE fell sharply.
September 14, 2023 | 2:03 pm
News sentiment analysis
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NEGATIVE IMPACT
BIOLASE was down, falling 43% to $1.8610 after the company announced pricing of a $4.5 million underwritten public offering of Series J Convertible Redeemable Preferred Stock and warrants.
The drop in BIOL's share price is likely due to the announcement of a public offering, which is generally seen as a negative development.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of Clearmind Medicine were down 54% to $0.1862 after the company announced pricing of a $2.25 million public offering of 7.5 million shares at $0.30/share.
The drop in CMND's share price is likely due to the announcement of a public offering at a price lower than the current market price, which is generally seen as a negative development.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Sezzle Inc. shares dropped 67% to $28.60.
The sharp drop in SEZL's share price is not directly explained in the news, but it's likely due to negative market sentiment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Shares of First Wave BioPharma shot up 105% after the company announced a license agreement for capeserod from Sanofi.
The sharp increase in FWBI's share price is likely due to the announcement of a license agreement with Sanofi, which is a positive development for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of PFSweb got a boost, shooting 48% to $7.42 after GXO Logistics announced it will acquire the company.
The increase in PFSW's share price is likely due to the announcement that GXO Logistics will acquire the company, which is generally seen as a positive development.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
TradeUP Acquisition Corp. shares were up, gaining 30% to $9.88.
The increase in UPTD's share price is not directly explained in the news, but it's likely due to positive market sentiment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100