Target, Holley, Ferroglobe And Other Big Losers From Wednesday


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.

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