Canopy Growth, DocGo And Other Big Stocks Moving Lower On Monday
Portfolio Pulse from Lisa Levin
Several US stocks recorded losses on Monday, including Scilex Holding Company, Canopy Growth Corporation, Nuvalent, DocGo, GigaCloud Technology, Eos Energy Enterprises, Unity Software, FingerMotion, Rumble, Butterfly Network, Couchbase, Caribou Biosciences, Moderna, Lexicon Pharmaceuticals, Wayfair, The Gap, Viking Therapeutics, AMC Entertainment Holdings, Tellurian, MINISO Group Holding, and Arm Holdings.
September 18, 2023 | 3:08 pm
News sentiment analysis
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NEGATIVE IMPACT
AMC Entertainment Holdings fell 6.8% to $7.78.
The news does not provide a specific reason for the drop in AMC Entertainment Holdings' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Arm Holdings fell 5.4% to $57.46.
The news does not provide a specific reason for the drop in Arm Holdings' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Couchbase fell 7.8% to $17.98.
The news does not provide a specific reason for the drop in Couchbase's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Butterfly Network declined 8% to $1.5650.
The news does not provide a specific reason for the drop in Butterfly Network's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Canopy Growth Corporation fell 14.8% to $1.15 after the company announced a private placement of up to $50 million.
Private placements often dilute existing shareholders, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Caribou Biosciences tumbled 7.7% to $5.41.
The news does not provide a specific reason for the drop in Caribou Biosciences' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
DocGo declined 10.4% to $5.11 after naming Lee Bienstock as CEO effective Sept. 15.
CEO changes can create uncertainty, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Eos Energy Enterprises tumbled 9.8% to $2.3350.
The news does not provide a specific reason for the drop in Eos Energy's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
FingerMotion declined 8.7% to $5.51.
The news does not provide a specific reason for the drop in FingerMotion's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
GigaCloud Technology declined 10.2% to $10.28.
The news does not provide a specific reason for the drop in GigaCloud's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Gap fell 7.2% to $10.39.
The news does not provide a specific reason for the drop in The Gap's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Lexicon Pharmaceuticals shares fell 7.5% to $1.2950.
The news does not provide a specific reason for the drop in Lexicon Pharmaceuticals' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
MINISO Group Holding fell 6.5% to $26.32.
The news does not provide a specific reason for the drop in MINISO Group Holding's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Moderna fell 7.7% to $105.80.
The news does not provide a specific reason for the drop in Moderna's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nuvalent declined 12.7% to $41.36. The company will present preliminary dose-escalation data from its ongoing ALKOVE-1 Phase 1/2 trial.
Investors may be selling the stock ahead of the data presentation, fearing negative results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Rumble fell 8.4% to $6.22.
The news does not provide a specific reason for the drop in Rumble's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Scilex Holding Company shares dipped 17.3% to $1.86 after the completion of its SP-103 Phase 2 study.
The completion of a phase 2 study often leads to a sell-off as investors take profits.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tellurian fell 6.8% to $1.2113.
The news does not provide a specific reason for the drop in Tellurian's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Unity Software dipped 8.8% to $33.13 after posting an apology for the confusion and angst caused by the runtime fee policy they announced.
Negative reactions to policy changes can lead to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Viking Therapeutics fell 7% to $13.73.
The news does not provide a specific reason for the drop in Viking Therapeutics' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Wayfair declined 7.4% to $65.78.
The news does not provide a specific reason for the drop in Wayfair's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100