Why Sharps Technology Shares Are Trading Lower By Around 32%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session
Portfolio Pulse from Lisa Levin
Several stocks experienced significant movement in Wednesday's mid-day session. ShiftPixy, Inc. (NASDAQ:PIXY) shares jumped 152.8% after announcing the effective date for its reverse stock split. SciSparc Ltd. (NASDAQ:SPRC) gained 120.9% as it reported its 1-for-26 reverse share split is expected to be implemented after market close. Rite Aid Corporation (NYSE:RAD) climbed 44% following a substantial settlement agreement of $230 million by consulting firm McKinsey & Company related to opioid addiction lawsuits. On the other hand, Sharps Technology, Inc. (NASDAQ:STSS) fell 31.6% after reporting a $5.6 million registered direct and private placement priced at the market under Nasdaq rules.
September 27, 2023 | 4:48 pm
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Sharps Technology, Inc. fell 31.6% after reporting a $5.6 million registered direct and private placement priced at the market under Nasdaq rules.
The announcement of the $5.6 million registered direct and private placement, which is often used to raise capital but can dilute existing shareholders' equity, has led to a significant decrease in Sharps Technology's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
ShiftPixy, Inc. shares jumped 152.8% after announcing the effective date for its reverse stock split.
The announcement of the reverse stock split, which is often used to boost the share price, has led to a significant increase in ShiftPixy's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Rite Aid Corporation climbed 44% following a substantial settlement agreement of $230 million by consulting firm McKinsey & Company related to opioid addiction lawsuits.
The settlement agreement by McKinsey, which was accused of contributing to the opioid addiction crisis through its consulting work with pharmaceutical companies, has led to a significant increase in Rite Aid's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SciSparc Ltd. gained 120.9% as it reported its 1-for-26 reverse share split is expected to be implemented after market close.
The announcement of the reverse share split, which is often used to boost the share price, has led to a significant increase in SciSparc's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100