Nasdaq Down Over 1%; US Industrial Output Rises In August
Portfolio Pulse from Lisa Levin
US stocks traded lower with the Nasdaq Composite falling more than 1%. Industrial production in the U.S. rose 0.4% from a month ago in August, above market estimates of a 0.1% growth. Novonix Limited (NVX), Iovance Biotherapeutics, Inc. (IOVA), and MSP Recovery, Inc. (LIFW) saw their shares rise, while RF Industries, Ltd. (RFIL), Volcon, Inc. (VLCN), and PTC Therapeutics, Inc. (PTCT) experienced a drop in their shares.
September 15, 2023 | 4:31 pm
News sentiment analysis
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NEGATIVE IMPACT
PTC Therapeutics, Inc. was down, falling 31% 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.
The CHMP's negative opinion on the conversion of the conditional marketing authorization to full marketing authorization of Translarna is a negative development for the company, which likely led to the decrease in its share price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
RF Industries, Ltd. shares dropped 14% following downbeat third-quarter results.
The company's downbeat Q3 results likely led to the decrease in its share price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Shares of Volcon, Inc. were down 22% after the company reported pricing of $700,000 underwritten public offering, utilizing current remaining shelf availability.
The company's announcement of the pricing of its underwritten public offering likely led to the decrease in its share price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Shares of Iovance Biotherapeutics, Inc. shot up 18% after the company announced the FDA extended its BLA Priority Review for lifileucel amid resource constraints.
The FDA's extension of its BLA Priority Review for lifileucel is a positive development for the company, which likely led to the increase in its share price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
MSP Recovery, Inc. shares were up, gaining 220% after the company recently reported second-quarter results.
The company's positive Q2 results likely led to the significant increase in its share price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Novonix Limited shares shot up 27% after the company announced it achieved high-performance battery grade synthetic graphite production milestones.
The company's achievement of high-performance battery grade synthetic graphite production milestones is a positive development, which likely led to the increase in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100