Markets Open Lower; US Housing Starts Fall In August
Portfolio Pulse from Lisa Levin
US stocks opened lower with the Dow Jones, NASDAQ, and S&P 500 all falling. Housing starts in the US fell 11.3% MoM to an annualized rate of 1.283 million in August, the lowest level since June 2020. Connexa Sports Technologies, Avinger, and Sezzle saw their shares rise, while Digital Transformation Opportunities Corp., Histogen, and Revance Therapeutics saw their shares fall.
September 19, 2023 | 1:59 pm
News sentiment analysis
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POSITIVE IMPACT
Shares of Avinger rose by 66%, adding to gains from Monday after the company announced the commercial launch of its Tigereye ST image-guided CTO crossing device.
The launch of a new product and the subsequent rise in AVGR's shares indicates positive market reception. This could potentially drive the price up further in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Shares of Connexa Sports Technologies rose by 130% after falling 15% on Monday.
The sharp rise in CNXA's shares after a previous fall indicates a strong recovery, which could potentially attract more investors, driving the price up further in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Shares of Sezzle rose by 41%.
The rise in SEZL's shares indicates positive market sentiment, which could potentially drive the price up further in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Shares of Digital Transformation Opportunities Corp. fell by 49% after jumping 173% on Monday.
The sharp fall in DTOC's shares after a previous jump indicates market correction, which could potentially drive the price down further in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Shares of Histogen fell by 45% as the company reported board approval of complete liquidation and dissolution.
The announcement of liquidation and dissolution is a strong negative signal for investors, which is likely to drive the price down further in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Shares of Revance Therapeutics fell by 33% after the company issued a corporate update estimating total non-cash impairment charges from goodwill and other assets to be between $80 million and $100 million.
The announcement of significant impairment charges is a negative signal for investors, which is likely to drive the price down further in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90