Shares of Kodiak Sciences Inc. KOD took a nosedive during Thursday’s session upon reporting a fourth-quarter loss wider than expected.
Kodiak Sciences disclosed a quarterly loss of $1.13 per share, missing the market forecasts of a loss pegged at 77 cents per share.
This disappointing news sent Kodiak Sciences shares plummeting by 19.9% to a price of $5.97 on Thursday.
Amidst the chaos, a myriad of other stocks experienced significant movements in today’s mid-day trading session.
Winners
- Avalo Therapeutics, Inc. AVTX soared by an astonishing 430% to reach $25.35 following the acquisition of AlmataBio along with the announcement of a hefty $185 million private placement financing.
- Xilio Therapeutics, Inc. XLO surged by 146% to $1.58 after securing an exclusive licensing agreement with Gilead Sciences for a tumor-activated IL-12 program alongside an $11.3 million private placement equity financing.
- Biodexa Pharmaceuticals Plc BDRX witnessed an 80% climb to $1.5395 on the back of promising results from MTX110 in battling aggressive brain cancers.
- Ontrak, Inc. OTRK registered a 55% rise to $0.9239.
- Binah Capital Group, Inc. BCG rebounded with a 48% climb to $14.05 after a previous 20% dip on Wednesday.
- Kidpik Corp. PIK jumped up by 40.7% to $4.5999, buoyed by a Nasdaq minimum bid price requirement compliance reinstatement.
Losers
- Primech Holdings Ltd. PMEC witnessed a sharp decline of 46.7% to $2.07 after publicizing financial updates and corporate highlights for the six months ending Sept. 30, 2023.
Market Turmoil Grips Investors
- Fallin’ Bears: Cell Ltd. (GMDA) plunged 28.1% to $0.0427, akin to a boulder rolling downhill, causing panic.
- Storage District: Data Storage Corporation (DTST) dropped 24% to $5.81, sending shockwaves across the trading floor.
- Urban Despair: Urban-gro, Inc. (UGRO) declined 22.9% to $1.3992, dark clouds looming over once-promising prospects.
- Presto Plummets: Presto Automation Inc. (PRST) fell 22% to $0.1493, a sudden drop akin to a magician’s vanishing act.
- Tonix Tumbles: Tonix Pharmaceuticals Holding Corp. (TNXP) dipped 19.6% to $0.2629, rattling even seasoned traders.
- MillerKnoll in Decline: MillerKnoll, Inc. (MLKN) shares dropped 17.2% to $25.28, painting a gloomy picture for shareholders.
- Sezzle Stumbles: Sezzle Inc. (SEZL) fell 16.6% to $77.13, leaving investors feeling unsteady.
- NuCana’s Fall: NuCana plc (NCNA) dropped 16.3% to $0.2616, as shareholders faced a bitter pill to swallow.
- SOBR’s Retreat: SOBR Safe, Inc. (SOBR) slipped 13.7% to $0.4460 after a brief surge, like a rollercoaster ride gone awry.
- Murano Downturn: Murano Global Investments Plc (MRNO) fell 13% to $12.97, a setback in an otherwise steady climb.
- XXII Troubles: 22nd Century Group, Inc. (XXII) plummeted 12.5% to $0.1151, jolting the market with unexpected news of a stock split.
- MicroStrategy Woes: MicroStrategy Incorporated (MSTR) declined 10.9% to $1,710.01, leaving many scratching their heads.
- Hitek Global Slip: Hitek Global Inc. (HKIT) fell 10.3% to $1.56, a stumble following a brief high the day before.
- Movella’s Slide: Movella Holdings Inc. (MVLA) dropped 10.2% to $0.0678, continuing a downward trend in a rocky market.
- Abits’ Dip: Abits Group Inc. (ABTS) fell 10.2% to $0.70, facing challenges in a turbulent market.
- Reddit Retreat: Reddit, Inc. (RDDT) slipped 9.4% to $52.32, seeing a decrease in activity as investors reassessed their positions.
- Braze’s Decline: Braze, Inc. (BRZE) dipped 9.3% to $45.90 after sharing less-than-stellar guidance for the future.
- Chemours Challenges: The Chemours Company (CC) shares dropped 6.2% to $27.09, facing internal hurdles amidst external pressures.
- GCT’s Volatility: GCT Semiconductor Holding Inc (GCTS) fell 5.1% to $41.77, experiencing instability post-business combination.
- Carnival’s Slippery Slope: Carnival Corporation & plc (CCL) fell 4% to $16.52, navigating rough waters despite a partial victory.