Hello Group And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Several major stocks, including Hello Group, MultiPlan Corporation, Larimar Therapeutics, Bowlero Corp, DraftKings, Axsome Therapeutics, Flutter Entertainment, Sea Limited, and Sasol Limited, experienced declines in Tuesday's pre-market trading. Hello Group's significant drop followed disappointing first-quarter results.
May 28, 2024 | 9:45 am
News sentiment analysis
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NEGATIVE IMPACT
Axsome Therapeutics shares fell 4.7% to $71.62 in pre-market trading.
The decline may be part of broader market movements or specific investor sentiment towards the stock.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Bowlero Corp shares declined 6.1% to $11.40 in pre-market trading after announcing the acquisition of Thunderbowl Lanes in Michigan.
The decline may be due to investor concerns about the financial impact of the recent acquisition.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
DraftKings shares fell 5.2% to $38.67 in pre-market trading after completing the acquisition of Jackpocket last week.
The decline may reflect investor concerns about the integration and financial impact of the acquisition.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Flutter Entertainment shares fell 3.3% to $197.39 in pre-market trading.
The decline may be part of broader market movements or specific investor sentiment towards the stock.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Larimar Therapeutics shares fell 6.2% to $6.64 in pre-market trading after the FDA removed a partial clinical hold on the nomlabofusp clinical program last week.
Despite positive regulatory news, the stock's decline suggests other underlying concerns or profit-taking by investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Hello Group's shares fell 4.9% to $5.25 in pre-market trading after posting disappointing first-quarter results with adjusted EPADS of 4 cents, missing market expectations of 29 cents.
The significant miss on earnings expectations is likely to negatively impact investor sentiment and drive the stock price lower in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
MultiPlan Corporation shares dipped 9.8% to $0.6198 in pre-market trading after a 22% jump on Friday.
The sharp decline following a significant jump suggests profit-taking and potential volatility in the stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Sea Limited shares declined 3.2% to $69.70 in pre-market trading.
The decline may be part of broader market movements or specific investor sentiment towards the stock.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Sasol Limited shares fell 3.1% to $7.00 in pre-market trading.
The decline may be part of broader market movements or specific investor sentiment towards the stock.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50