Canopy Growth, Avadel Pharmaceuticals And Other Big Stocks Moving Lower On Friday
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U.S. stocks traded lower, with the Nasdaq Composite dropping around 100 points on Friday. Here are some big stocks recording losses in today’s session.
- GSR II Meteora Acquisition Corp. (NASDAQ:GSRM) fell 26.4% to $7.66.
- Virgin Galactic Holdings, Inc. (NYSE:SPCE) dropped 17.4% to $4.3950 after the company announced another at-the-market stock offering of $400 million to raise capital. The offering would be dilutive to shares.
- Avadel Pharmaceuticals plc (NASDAQ:AVDL) dropped 12.4% to $13.35. Jazz Pharmaceuticals filed suit against the FDA for approving Avadel Pharmaceuticals Lumryz (sodium oxybate extended-release) for cataplexy or excessive daytime sleepiness in adult patients with narcolepsy.
- Kingsoft Cloud Holdings Limited (NASDAQ:KC) declined 12.5% to $5.62.
- Canopy Growth Corporation (NASDAQ:CGC) dipped 11.5% to $0.5313 as the company said FY23 net revenue dropped 21%.
- Cricut, Inc. (NASDAQ:CRCT) fell 9.4% to $15.38.
- Sarepta Therapeutics, Inc. (NASDAQ:SRPT) dropped 9.2% to $112.51. Evercore ISI Group downgraded Sarepta Therapeutics from Outperform to Neutral and announced a $139 price target. The FDA granted accelerated approval to closely watched Sarepta Therapeutics’ gene therapy, Elevidys, for Duchenne muscular dystrophy (DMD) in ambulatory pediatric patients aged 4 through 5 years with a confirmed mutation in the DMD gene.
- C3.ai, Inc. (NYSE:AI) fell 8.7% to $34.14.
- Diversified Healthcare Trust (NASDAQ:DHC) fell 8.7% to $1.77.
- Nikola Corporation (NASDAQ:NKLA) dropped 7.5% to $1.2763. Nikola Motor Company tweeted "Early this morning behind our phoenix headquarters, a fire occurred which affected multiple battery electric trucks. no one has been injured....."
- P3 Health Partners Inc. (NASDAQ:PIII) fell 7.4% to $3.40.
- XPeng Inc. (NYSE:XPEV) dropped 7.3% to $9.79.
- NIO Inc. (NYSE:NIO) fell 6.5% to $8.34.
- Novonix Limited (NASDAQ:NVX) fell 5.4% to $2.7250.
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