Crude Oil Rises Over 1%; US Housing Market Index Falls In September
Portfolio Pulse from Lisa Levin
US stocks traded higher with the Dow Jones gaining around 70 points. Energy shares rose by 0.9% while consumer discretionary shares fell by 0.9%. The NAHB/Wells Fargo Housing Market Index fell for a second month to a reading of 45 in September. Nikola Corporation (NKLA), Avinger, Inc. (AVGR), and SeqLL Inc. (SQL) saw their shares rise significantly. Canopy Growth Corporation (CGC), Rubicon Technologies, Inc. (RBT), and AgriFORCE Growing Systems Ltd. (AGRI) saw their shares drop.
September 18, 2023 | 4:24 pm
News sentiment analysis
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NEGATIVE IMPACT
AgriFORCE Growing Systems Ltd. shares dropped 25% after the company announced commercial launch and first purchase order for its AgriFORCE-RCS Hydroxyl Device.
Despite the positive news of a product launch and first purchase order, the company's share price dropped significantly.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Canopy Growth Corporation shares dropped 15% after the company announced a private placement of up to $50 million.
The announcement of a private placement can dilute existing shareholders' equity, leading to a drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Rubicon Technologies, Inc. shares dropped 17% after the company reported a 1-for-8 reverse stock split.
A reverse stock split can be seen as a negative development, leading to a drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Avinger, Inc. shares rose 76% after the company announced the commercial launch of its Tigereye ST image-guided CTO crossing device.
The commercial launch of a new product is a positive development, leading to a significant rise in the company's share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nikola Corporation shares rose 17% after the company announced the appointment of a new chief operating officer.
The appointment of a new COO is seen as a positive development, leading to a rise in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
SeqLL Inc. shares rose 41% after the company announced the date of its cash and stock dividend.
The announcement of a cash and stock dividend is seen as a positive development, leading to a rise in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100