Stock Market Takes a Dip: 5 Losers of the Day
• The S&P 500 dropped 0.1% while the NASDAQ Composite dropped 0.4%.
• Creative Realities Inc. (NASDAQ: CREX) experienced a significant decline, shedding 36.45%, after pricing its public offering at $2 per share.
• Tremor International Ltd. (NASDAQ: TRMR) reported respectable financial results for the three and six months ending June 30, 2023, but shareholders still sold off nearly 30% of the stock today.
Market Overview
The S&P 500 dropped 0.1% as the blue-chip Dow Jones Industrial Average remained below the flat line. The NASDAQ Composite dropped 0.4% after losing more than 1% for two straight sessions.
Creative Realities Inc.
Shares of Creative Realities Inc.(NASDAQ: CREX) experienced a significant decline, shedding 36.45% after the pricing of its public offering was set at $2 per share. This saw the Louisville, Kentucky-based digital marketing firm’s stock fall to $2 in premarket trading, starkly contrasting their 72% year-to-date gain recorded at Wednesday’s market close. Creative Realities announced its plan to offer 3 million shares at this price point, with expected proceeds of $6 million.
Tremor International Ltd.
Tremor International Ltd.(NASDAQ: TRMR) reported its financial results for the three and six months ending June 30, 2023 . Highlights of the financial release included the Q2 2023 Contribution ex-TAC, which was $80.2 million, up from $70.8 million in Q2 2022, marking a year-over-year increase of 13%. Meanwhile, the H1 2023 Contribution ex-TAC reached $147.1 million; a 4% increase from $141.8 million in H1 2022 . Despite these respectable figures however , shareholders sold off nearly 30% of their stock today .
Check-Cap Ltd.
After Check-Cap Ltd.(NASDAQ: CHEK) announced a definitive Business Combination Agreement with Keystone Dental Holdings Inc., shareholders sold out of caution until they see future earnings reports . This Keystone Dental Holdings and Check-Cap deal is set to reshape the dental industry landscape , with Keystone Dental’s stockholders becoming majority holders of the newly formed entity . Upon completion , this combined public company will be based in Irvine , CA , focusing on driving commercial execution and market development . It will capitalize on Keystone Dental’s extensive portfolio of implants , arches , and other tooth replacement solutions .
Natural Alternatives International Inc.
Natural Alternatives International Inc.(NASDAQ : NAII ) has announced a temporary shutdown of its recently opened facility due to technical difficulties encountered during start – up operations . In response to this issue , they have decided to suspend some production lines until it can be resolved while focusing on areas where production is unaffected by this issue . Although this may cause short term disruption to customers currently receiving product from them , Natural Alternatives is committed to resolving any issues related to these technical difficulties as soon as possible and resuming full operations without interruption .
