Why Skye Bioscience Shares Are Trading Lower By 19%? Here Are Other Stocks Moving In Monday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
Shares of Skye Bioscience, Inc. (NASDAQ:SKYE) fell sharply by 19% after the company announced the discontinuation of its SBI-100 Ophthalmic Emulsion Phase 2a trial. Other notable movers include Big Tree Cloud Holdings Limited (NASDAQ:DSY) which jumped 123% following a business combination, and KWESST Micro Systems Inc. (NASDAQ:KWE) which gained 79.8% after being awarded a significant sub-contract. Several other stocks experienced significant gains or losses during Monday's mid-day session.
June 10, 2024 | 6:10 pm
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NEGATIVE IMPACT
Skye Bioscience shares fell 19% after the company announced the discontinuation of its SBI-100 Ophthalmic Emulsion Phase 2a trial.
The discontinuation of a key trial is a significant negative event for Skye Bioscience, leading to a sharp decline in its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Big Tree Cloud Holdings Limited shares jumped 123% following the completion of its business combination with Plutonian Acquisition Corp.
The completion of a business combination is a positive event, leading to a significant increase in Big Tree Cloud's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
KWESST Micro Systems Inc. gained 79.8% after being awarded a sub-contract worth up to C$48 million by Thales Canada.
Winning a significant sub-contract is a positive development for KWESST Micro Systems, resulting in a substantial rise in its stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75