FMC, Li-Cycle Holdings, Okta And Other Big Stocks Moving Lower On Monday
Portfolio Pulse from Lisa Levin
Several US-listed stocks recorded losses on Monday, including Li-Cycle Holdings Corp. (LICY), Revolution Medicines, Inc. (RVMD), Ambrx Biopharma Inc. (AMAM), FMC Corporation (FMC), VinFast Auto Ltd. (VFS), NewAmsterdam Pharma Company N.V. (NAMS), FingerMotion, Inc. (FNGR), YPF Sociedad Anónima (YPF), Okta, Inc. (OKTA), World Acceptance Corporation (WRLD), Perfect Corp. (PERF), and Formula Systems (1985) Ltd. (FORTY). The reasons for the declines varied, from halted construction projects and updated outlooks to lowered price targets and data breaches.
October 23, 2023 | 3:05 pm
News sentiment analysis
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NEGATIVE IMPACT
Ambrx Biopharma Inc. declined 22% after announcing ARX517, a PSMA-targeted ADC, demonstrates 52% PSA50 and a highly differentiated safety and PK profile in patients with mCRPC.
The announcement about ARX517 could have been perceived negatively by investors, leading to a drop in stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
FMC Corporation fell 13.7% after the company updated its third-quarter and FY23 outlook.
The company's updated outlook could have been perceived negatively by investors, leading to a drop in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
FingerMotion, Inc. fell 8.8%.
The reason for the stock price drop is not specified in the news, but it's clear that the stock price has fallen.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Formula Systems (1985) Ltd. declined 6%.
The reason for the stock price drop is not specified in the news, but it's clear that the stock price has fallen.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Li-Cycle Holdings Corp. shares dipped 41% after the company announced plans to halt construction work on its Rochester Hub project.
The company's decision to halt construction work on a major project could indicate potential issues, leading to investor uncertainty and a drop in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
NewAmsterdam Pharma Company N.V. declined 11.4% after the company named Ian Somaiya as Chief Financial Officer.
The appointment of a new CFO could have been perceived negatively by investors, leading to a drop in stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Okta, Inc. declined 7.6% on continued downward momentum after a threat actor breached its support system and viewed certain customer files.
The security breach could have been perceived negatively by investors, leading to a drop in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Perfect Corp. fell 6.8%.
The reason for the stock price drop is not specified in the news, but it's clear that the stock price has fallen.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Revolution Medicines, Inc. fell 38% after the company announced it presented clinical activity and safety data from its Phase 1/1b trial of RMC-6236.
The presentation of clinical activity and safety data could have been perceived negatively by investors, leading to a drop in stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
VinFast Auto Ltd. fell 11.4% after the company recently entered into a standby equity agreement with YA LL PN for an aggregate subscription amount of up to $1 billion.
The standby equity agreement could have been perceived negatively by investors, leading to a drop in stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
World Acceptance Corporation fell 6.8% after BMO Capital maintained an Underperform rating on the stock and lowered its price target.
The Underperform rating and lowered price target could have been perceived negatively by investors, leading to a drop in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
YPF Sociedad Anónima fell 8.5%.
The reason for the stock price drop is not specified in the news, but it's clear that the stock price has fallen.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100