Coinbase, Blue Bird, Tingo Group And Other Big Stocks Moving Lower On Tuesday


U.S. stocks traded mixed, with the Nasdaq Composite rising around 0.2% on Tuesday. Here are some big stocks recording losses in today’s session.

  • Tingo Group, Inc. TIO shares tumbled 52.8% to $1.2050. A short report from Hindenburg Research has hit Tingo Group, calling it an "exceptionally obvious scam" with alleged falsified financials.
  • NovoCure Limited NVCR dropped 28.5% to $59.02. NovaCure disclosed results from the Phase 3 LUNAR clinical trial evaluating the use of tumor treating fields therapy with standard treatment therapies and said it met its primary endpoint at 2023 ASCO Annual Meeting.
  • Chijet Motor Company, Inc. CJET dipped 21.3% to $4.6408.
  • Nevro Corp. NVRO fell 17% to $22.85. Several analysts cut their price targets on the stock.
  • Coinbase Global, Inc. COIN declined 14.3% to $50.41 after the SEC sued the company in NY federal court.
  • Jiayin Group Inc. JFIN fell 13.5% to $6.92.
  • WeWork Inc. WE dropped 12.1% to $0.2015.
  • Bausch Health Companies Inc. BHC fell 11.9% to $6.99.
  • Cadre Holdings, Inc. CDRE fell 11.6% to $19.24. Cadre Holdings reported a 1.5 million share secondary offering.
  • Ciena Corporation CIEN declined 11.5% to $42.06 following second-quarter results.
  • Blue Bird Corporation BLBD dropped 8.4% to $23.03. Blue Bird announced a secondary public offering of 5 million shares.
  • U Power Limited UCAR fell 7.6% to $8.00.
  • iRhythm Technologies, Inc. IRTC dropped 7.2% to $97.60. iRhythm Technology recently received an FDA warning letter related to its Cypress, California facility.
  • Novavax, Inc. NVAX fell 7% to $7.30. Novavax’s R&D chief Filip Dubovsky expressed confidence that the company's updated COVID-19 vaccine, already in production, will offer protection against the rapidly emerging coronavirus variants prevalent in the U.S.
  • ICL Group Ltd ICL declined 6% to $5.24.
  • Genius Sports Limited GENI dropped 5.8% to $5.94.
  • Community Health Systems, Inc. CYH fell 5.7% to $3.77.


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