Wednesday saw a turbulent ride for Ascent Solar Technologies, Inc. ASTI as its shares spiraled downward following the announcement of a public offering priced at $0.14 per share.
Ascent Solar Technologies’ stock price plummeted by a staggering 50% to $0.1374 by mid-day.
Amidst this storm, there were other stocks making noteworthy movements in today’s bustling mid-day session.
Surging Ahead
- Marin Software Incorporated MRIN leaped 152% to $0.7242 after unveiling upgrades to its integration with Microsoft Advertising.
- Adial Pharmaceuticals, Inc. ADIL surged 75% to $1.9698 following the publication of an article showcasing the clinical success and safety of AD04.
- Infobird Co., Ltd IFBD soared by 45.3% to $6.00.
- ReTo Eco-Solutions, Inc. RETO climbed 45% to $1.67.
- Meiwu Technology Company Limited WNW shot up by 36% to $1.37.
- Nano Labs Ltd NA saw a 31.6% rise to $1.9502 after filing an annual report for fiscal year 2023.
- iCoreConnect Inc. ICCT surged 30.8% to $1.4650, subsequent to closing a convertible note financing last month.
Struggling Stock Stories
- VIA optronics AG VIAO nosedived by 52.9% to $0.4238 as it announced its intention to delist its ADSs from the New York Stock Exchange.
- Velo3D, Inc. VLD dropped 40.1% to $0.2783 after a $12 million public offering was priced.
- EZGO Technologies Ltd. EZGO declined 27.6% to $0.0441 following a reverse share split announcement.
- C3is Inc. CISS fell 22% to $0.0326 after declaring a reverse stock split.
- Nutex Health Inc. NUTX slid by 18.6% to $0.9525.
- SMART Global Holdings Inc. SGH dipped 18.4% to $21.13 despite exceeding estimates in Q2 results, with a mixed outlook for the third quarter.
- DocGo Inc. DCGO dropped 18.2% to $3.15, as a price target adjustment followed a Buy recommendation by Stifel analyst David Grossman.
- Gorilla Technology Group Inc. GRRR fell by 18.2% to $0.6216.
Market Turmoil: A Rollercoaster Ride for InvestorsA Rollercoaster Ride for Investors: Market Turmoil Strikes
Stock Plunges and Wall Street Woes
- BNRG saw a sharp decline of 15.5%, falling to $2.01.
- PainReform Ltd. (PRFX) suffered a significant setback, dropping 15.2% to $1.28, following an 11% decrease the previous day. The company had touted promising results from new studies, highlighting the superior performance of PRF-110 over existing post-surgical pain relief products.
- Sunnova Energy International Inc. (NOVA) slid 14.5% to $4.6150, after a notable 18% surge in the previous trading session.
- Kineta, Inc. (KA) experienced a 14% dip, reaching $0.3699. The company had recently unveiled preliminary clinical response data at the AACR 2024 from its ongoing Phase 1/2 VISTA-101 clinical trial.
- Hexcel Corporation (HXL) tumbled 12.1% to $62.58, following a downgrade from Neutral to Underperform by B of A Securities, with a lowered price target from $75 to $65.
- Mobile Global Esports Inc. (MGAM) witnessed a 12% decline to $0.19 after a remarkable 78% surge the day before.
A Dark Day for Financial Giants
- Rocket Companies, Inc. (RKT) went down by 11.1% to $12.55.
- Opendoor Technologies Inc. (OPEN) dipped 9.8% to $2.47.
- Biophytis S.A. (BPTS) recorded a 9.6% drop to $0.3560, a stark contrast to the 32% surge seen the day before, triggered by an increase in FY23 EPS results.
- Sunrun Inc. (RUN) fell 9.5% to $11.78. The company priced a $230 million senior securitization of residential solar & battery systems.
- Valley National Bancorp (VLY) registered an 8.2% decline, settling at $7.34.
Further Strain on Market Leaders
- Deckers Outdoor Corporation (DECK) saw a 7.7% dip to $801.03 after a downgrade from Buy to Hold by Truist Securities, accompanied by a slashed price target from $983 to $864.
- RH observed a 7.4% decline, reaching $267.43.
- Wayfair Inc. (W) decreased by 6.7% to $61.87.
- Tesla, Inc. (TSLA) declined 3.1% to $171.44 after analysts at Jefferies and Piper Sandler revised down their price targets for the stock.
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