Market-Moving News for June 10th
Portfolio Pulse from ryanfaloona@benzinga.com
Market-Moving News for June 10th: Big Tree Cloud (DSY) shares surge 255% following business combination with Plutonian Acquisition Corp. and recent Nasdaq debut. Skye Bioscience (SKYE) shares plummet 45% after discontinuing SBI-100 Ophthalmic Emulsion Phase 2a trial. KKR & Co (KKR) shares rise 9% on news of joining the S&P 500.
June 10, 2024 | 12:40 pm
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POSITIVE IMPACT
Big Tree Cloud shares surged 255% following the completion of its business combination with Plutonian Acquisition Corp. and amid continued volatility after its Nasdaq debut.
The significant price increase is driven by the successful business combination and the recent Nasdaq debut, which has generated investor interest and market volatility.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
KKR & Co shares rose 9% after it was announced that the company will join the S&P 500.
The inclusion in the S&P 500 is a positive development, likely to attract more institutional investors and increase demand for the stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Skye Bioscience shares dropped 45% after the company announced the discontinuation of its SBI-100 Ophthalmic Emulsion Phase 2a trial.
The sharp decline in share price is due to the failure of the Phase 2a trial to meet its target product profile, leading to the discontinuation of the program.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100