Nasdaq Down Over 1%; US Initial Jobless Claims Fall More Than Expected
Portfolio Pulse from Lisa Levin
US stocks traded lower with the Nasdaq Composite falling over 150 points. Initial jobless claims fell by 20,000 to 201,000, lower than market estimates of 225,000. MSP Recovery, Near Intelligence, and Neptune Wellness saw their shares rise, while Travere Therapeutics, QuantaSing Group, and Seelos Therapeutics saw their shares drop.
September 21, 2023 | 1:59 pm
News sentiment analysis
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NEGATIVE IMPACT
Shares of QuantaSing Group were down 34%.
The significant drop in QuantaSing Group's shares indicates negative investor sentiment, which could lead to a short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Seelos Therapeutics was down, falling 32% after announcing a $4.5 million registered direct offering of common stock and warrants.
The drop in Seelos Therapeutics' shares following its announcement of a direct offering suggests negative investor sentiment, which could drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Travere Therapeutics shares dropped 43% after announcing topline two-year confirmatory secondary endpoint results from its Phase 3 PROTECT Study.
The significant drop in Travere Therapeutics' shares following the announcement of its study results suggests negative investor sentiment, which could drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Sanofi's drug Avapro was mentioned in relation to Travere Therapeutics' study results.
Sanofi's drug Avapro was mentioned in relation to Travere Therapeutics' study results, but the impact on Sanofi's stock price is unclear.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
MSP Recovery shares shot up 90% after jumping 64% on Wednesday.
The sharp rise in MSP Recovery's shares indicates positive investor sentiment, likely leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Neptune Wellness shares were up, gaining 33% after falling 11% on Wednesday.
The rise in Neptune Wellness's shares following a previous drop indicates a potential recovery in investor sentiment, which could lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Shares of Near Intelligence got a boost, shooting 53% to $0.32.
The significant increase in Near Intelligence's shares suggests strong investor interest, which could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80