Block (SQ) – Shares fell nearly 20% following a new negative report from short seller and research firm Hindenburg. The firm’s report was titled “How Inflated User Metrics and “Frictionless” Fraud Facilitation Enabled Insiders To Cash Out Over $1 Billion.”
Coinbase (COIN) – The stock closed down 8% on Wednesday and was down another 18% Thursday morning following news of an SEC notice to the company related to allegations of securities violations. Several sell-side analysts were negative on the company and stock following the SEC notice, including a downgrade from analysts at Oppenheimer.
Clean Harbors (CLH) – A play on a potential upcoming news catalyst. Clean Harbors will host its 2023 Investor Day event on Wednesday of next week, a news event that has been known to be a market-moving catalysts for stocks. Interestingly, Clean Harbors execs sold shares of company stock last week. The stock recently traded at a new 52-week high.
Emergent Biosolutions (EBS) – A play on an upcoming FDA-related news catalyst. A panel of FDA advisors will host a meeting to give insight into Emergent’s opioid overdose treatment, Narcan, on Wednesday of next week.
T Stamp (IDAI) – Thursday morning’s penny stock, low float momentum name. Shares were volatile on volume amid apparently no news. The company is a provider of AI-enabled identity authentication software.