U.S. stocks traded lower, with the Dow Jones dropping more than 400 points on Friday. Here are some big stocks recording losses in today’s session.
- PureTech Health plc (NASDAQ: PRTC) shares dropped 21.4% to $24.34. Puretech Health confirmed that it has exchanged indicative, non-binding proposals with Nektar Therapeutics regarding a possible combination.
- Canopy Growth Corporation (NASDAQ: CGC) tumbled 17% to $3.12, possibly on profit-taking after the sector rallied on Thursday following President Biden's statement on marijuana reform. Tilray also reported worse-than-expected Q1 financial results, which has also possibly weighed on the sector.
- SNDL Inc. (NASDAQ: SNDL) fell 14.8% to $2.3750. Shares of several cannabis stocks traded lower, possibly on profit-taking after the sector rallied on Thursday following President Biden's statement on marijuana reform. Tilray also reported worse-than-expected Q1 financial results, which has also possibly weighed on the sector.
- Twist Bioscience Corporation (NASDAQ: TWST) dropped 11.5% to $34.60 after SVB Leerink maintained a Market Perform rating on the stock and lowered its price target from $50 to $45.
- Tilray Brands, Inc. (NASDAQ: TLRY) dropped 11.2% to $3.46 after the company reported worse-than-expected Q1 adjusted EPS and sales results.
- Lantheus Holdings, Inc. (NASDAQ: LNTH) declined 10.2% to $67.09. Payoneer Global will replace Lantheus Holdings in the S&P SmallCap 600 effective before trading on October 12.
- iQIYI, Inc. (NASDAQ: IQ) fell 9.9% to $2.3350.
- Lithium Americas Corp. (NYSE: LAC) fell 9.8% to $24.48. Lithium Americas confirmed oral hearing schedule for Thacker Pass record of decision appeal.
- CVS Health Corporation (NYSE: CVS) dropped 9.2% to $89.46 after the company announced CMS downgraded Aetna National PPO. The decrease in the Star Rating for the Aetna National PPO will mean that it will no longer be eligible for CMS' quality bonus payments related to 2024.
- Advanced Micro Devices, Inc. (NASDAQ: NASDAQ:AMD) declined 9% to $61.75 after the company lowered its sales guidance for the third quarter.
- Roblox Corporation (NASDAQ: RBLX) fell 9.2% to $35.53. A San Francisco lawsuit accused online gaming firm Roblox of enabling a California girl's sexual and financial exploitation by adult men.
- Levi Strauss & Co (NYSE: NYSE:LEVI) dropped 8.8% to $14.52. Levi Strauss reported upbeat earnings for its third quarter on Thursday, but lowered its full-year profit view.
- Kanzhun Limited (NYSE: BZ) fell 8.6% to $16.77.
- Lyft , Inc. (NASDAQ: NASDAQ:LYFT) fell 8.5% to $12.53 after RBC downgraded the stock from Outperform to Sector Perform and lowered its price target from $30 to $16.
- The Scotts Miracle-Gro Company (NYSE: SMG) dropped 8.3% to $41.40.
- Wayfair Inc. (NYSE: W) fell 8.1% to $30.91.
- Coinbase (NASDAQ:COIN) Global, Inc. (NASDAQ: COIN) dropped 6.3% to $69.26. Coinbase Global Director Tobias Lutke bought a total 5,610 shares at an average price of $69.09.
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