Why Butterfly Network Shares Are Trading Lower By 22%? Here Are Other Stocks Moving In Thursday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
Butterfly Network, Inc. (BFLY) shares fell by 22% after reporting a larger-than-expected GAAP loss for Q4, despite beating sales estimates. Other stocks experienced significant movements, with Enveric Biosciences, Inc. (ENVB) and Societal CDMO, Inc. (SCTL) among the top gainers, while J-Long Group Limited (JL) and Golden Minerals Company (AUMN) led the losers.
February 29, 2024 | 7:00 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Enveric Biosciences surged 177.1% after announcing the signing of three non-binding term sheets for out-licensing of compounds.
ENVB's significant stock price increase is due to the positive market reaction to its strategic licensing agreements.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Societal CDMO shares climbed 132.7% following the announcement of its acquisition by CoreRx, Inc.
The sharp increase in SCTL's stock price is a direct result of the acquisition announcement, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Golden Minerals Company shares dipped 40.4% after deciding to stop operations at its Velardeña Properties in Mexico.
AUMN's significant stock price drop is attributed to the decision to halt operations, indicating a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Butterfly Network reported a larger Q4 GAAP loss than expected, causing a 22% drop in its stock price.
The significant drop in BFLY's stock price is directly attributed to its earnings miss, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
J-Long Group Limited shares fell 46.3% after declaring a special cash dividend of $6 million.
JL's stock price decline is likely due to market reactions to the dividend announcement, suggesting a negative short-term impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100