Dow Dips 100 Points; US Export Prices Rise 1.3% In August
Portfolio Pulse from Lisa Levin
US stocks traded lower with the Dow Jones falling around 100 points. Export prices in the US rose by 1.3% month-over-month in August, while import prices increased by 0.5% month-over-month. MSP Recovery, AERWINS Technologies, and Know Labs saw their shares rise, while Axcella Health, Avalo Therapeutics, and PTC Therapeutics saw their shares drop.
September 15, 2023 | 2:59 pm
News sentiment analysis
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NEGATIVE IMPACT
Shares of Avalo Therapeutics were down 29% after the company agreed to divest AVTX-800 series.
The divestiture of a series often leads to a decrease in the company's share price as it may indicate a strategic shift or financial distress.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of Axcella Health dropped by 30% after the company announced a 1-for-25 reverse stock split effective Sept. 19, 2023.
The announcement of a reverse stock split often leads to a decrease in the company's share price as it may indicate financial distress.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of PTC Therapeutics were down 29% after the company announced the CHMP has given a negative opinion on the conversion of the conditional marketing authorization to full marketing authorization of Translarna for the treatment of nmDMD.
Negative regulatory news often leads to a decrease in the company's share price as it may indicate potential issues with the company's products.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of AERWINS Technologies rose by 46%.
The significant rise in AERWINS Technologies' shares could attract more investors, potentially leading to further price increases in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of Know Labs rose by 30%.
The substantial rise in Know Labs' shares could lead to increased investor interest and potentially further price increases in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of MSP Recovery rose by 97%.
The sharp rise in MSP Recovery's shares could lead to increased investor interest and potentially further price increases in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100