U.S. stocks closed mostly lower on Wednesday, with the Nasdaq Composite dropping around 175 points. Here is the list of some big stocks recording losses in the previous session.
- DLocal Limited DLO dropped 50.7% to settle at $10.46 on Wednesday after Muddy Waters announced a short position in the stock.
- indie Semiconductor, Inc. INDI declined 23.2% to close at $6.66 after the company announced a proposed convertible senior notes offering.
- Provident Bancorp, Inc. PVBC fell 21.8% to close at $7.90. Stephens & Co. downgraded Provident Bancorp from Overweight to Equal-Weight and lowered the price target from $18 to $12.
- Holley Inc. HLLY dropped 21.6% to close at $2.40. Holley reported a third-quarter FY22 sales decline of 3.1% year-on-year to $154.78 million, beating the consensus of $152.77 million.
- Membership Collective Group Inc. MCG dipped 18.7% to settle at $3.86 after the company reported worse-than-expected Q3 adjusted EPS and sales results.
- Ferroglobe PLC GSM fell 17.9% to close at $4.92 after the company reported worse-than-expected Q3 EPS and sales results.
- Satixfy Communications Ltd. SATX fell 17.2% to close at $26.33.
- Lufax Holding Ltd LU fell 15.8% to close at $1.97.
- Advance Auto Parts, Inc. AAP fell 15.1% to close at $156.24 after the company reported worse-than-expected earnings results and cut full-year guidance.
- Nano-X Imaging Ltd. NNOX declined 14.4% to settle at $12.27. Nano X Imaging recently posted a Q3 loss of $0.15 per share.
- ZoomInfo Technologies Inc. ZI declined 14.3% to close at $27.17 amid the company’s presentation at the RBC Capital Markets Global TIMT Conference.
- Lands’ End, Inc. LE fell 14.3% to close at $9.60.
- Adicet Bio, Inc. ACET dropped 14.1% to close at $17.47. Adicet Bio recently posted a Q3 loss of $0.53 per share.
- Carvana Co. CVNA fell 13.9% to settle at $8.55 as auto-related stocks fell after Advance Auto Parts lowered FY22 guidance.
- Carnival Corporation CCL shares fell 13.7% to settle at $9.63 after the company announced an offering of convertible senior notes.
- Target Corporation TGT dipped 13.1% to close at $155.47 after the company lowered its Q4 expectations, citing an ‘increasingly challenging environment.’
- Ginkgo Bioworks Holdings, Inc. DNA fell 13.1% to close at $2.32 after the company announced a public offering of Class A common stock.
- Affirm Holdings, Inc. AFRM dropped 12.7% to settle at $15.12 after the company’s partner Target cut its outlook and said inflation, economic uncertainty and interest rates have impacted shopping behavior.
- AerSale Corporation ASLE fell 12.7% to close at $15.49 after the company priced a secondary offering of 4 million shares of common stock at $15.50 per share.
- Coinbase Global, Inc. COIN dropped 12.1% to close at $48.83 amid a decrease in the price of major cryptocurrencies, which have continued to fall after the recent FTX bankruptcy. DA Davidson maintained a Buy rating on the stock but lowered its price target from $100 to $70.
- Payoneer Global Inc. PAYO dipped 11.9% to settle at $5.85.
- GDS Holdings Limited GDS fell 11.9% to close at $14.65.
- Big Lots, Inc. BIG fell 11.7% to close at $17.82.
- Privia Health Group, Inc. PRVA dipped 11.5% to close at $23.96. Privia Health announced secondary offering of 5 million shares of common stock.
- Laureate Education, Inc. LAUR dropped 11.3% to close at $10.78 after the company announced the commencement of an underwritten public offering by selling stockholders.
- XPeng Inc. XPEV fell 11% to close at $8.03.
- Wayfair Inc. W declined 10.9% to close at $37.58.
- Warby Parker Inc. WRBY dipped 10.8% to close at $16.77.
- MINISO Group Holding Limited MNSO dropped 10.8% to close at $9.75.
- Procore Technologies, Inc. PCOR declined 10.7% to close at $51.64.
- Rocket Lab USA, Inc. RKLB dropped 10.2% to close at $4.6850.
- On Holding AG ONON fell 8.7% to close at $18.40 following Q3 results.
- Best Buy Co., Inc. BBY dropped 8.6% to close at $69.12.
- Lyft, Inc. LYFT fell 8.4% to settle at $11.97.
- Atlassian Corporation TEAM declined 8.4% to close at $129.27.
- Atlassian Chief Operating Officer sold $225K in company stock.
- Nordstrom, Inc. JWN fell 8% to close at $19.93. Shares of retail and apparel companies traded lower in sympathy with Target, which fell after cutting guidance and reporting a 14.4% year-over-year increase in inventory at the end of October. Target said shopping behavior was impacted by inflation, interest rates and economic uncertainty.