GROM, PSTV, HKIT, DMS, WHLR Are The Top Loser Stocks of Today

WISCONSIN (CoinChapter.com) — Investors are considering statements by several Fed policymakers indicating they would postpone additional rate increases this year.

On Thursday, John Williams, president of the Federal Reserve Bank of New York, said that US monetary policy is “in a good place.” At the same time, he stressed that economic statistics would influence decision-makers.

Here are the five stock market losers:

Grom Social Enterprises Inc. (NASDAQ: GROM)

Grom Social Enterprises Inc. (NASDAQ: GROM) announced the pricing of a public offering, launching a $3 million offer of 946,000 units for $3.00 per unit and nearly 54,000 pre-funded units priced at $2.999 each.

Each unit comprises one common stock share and two warrants (Series A and B) to purchase one share of common stock each. These warrants are exercisable at $3.00, underpinning the company’s strategic efforts to raise capital and further its business expansion plans—shares sold by 46.42% on the news.

Plus Therapeutics Inc. (NASDAQ: PSTV)

Biocept Inc., a supplier of molecular diagnostic assays, goods, and services, announced signing a non-exclusive licensing agreement for CNSide with Plus Therapeutics Inc. (NASDAQ: PSTV). This agreement signifies a key expansion of the comprehensive laboratory services agreement between the two companies, initially announced in June 2022.

Plus, it is leveraging CNSide in a clinical trial to treat patients suffering from carcinomas and melanomas with suspected leptomeningeal metastases (LM)—a cancer affecting the membranes surrounding the brain and spinal cord. The news is positive, but shareholders sold by 30.64%.

Hitek Global Inc. (NASDAQ: HKIT)

Hitek Global Inc. (NASDAQ: HKIT), an IT consulting and solutions provider based in China, has not had any news announcements in many months, but shares sold off today by 27.83%. Most recently, on April 27, 2023, the company announced its financial results for the fiscal year 2022.

Despite the adverse conditions induced by the COVID-19 pandemic, including numerous restrictions on mobility and routine activities, the company managed to maintain its revenue at par with the last fiscal year.

Commenting on the results, Ms. Xiaoyang Huang, CEO and Director of Hitek Global Inc., expressed satisfaction with the company’s resilience and adaptability in such challenging and uncertain times.

Digital Media Solutions Inc. (NYSE: DMS)

Most recently, on August 18, 2023, Digital Media Solutions Inc. (NYSE: DMS) announced that its Board of Directors approved a 1-for-15 reverse stock split of the company’s Class A and Class B common stock.

The decision followed an earlier vote on April 28, 2023, where most of the company’s stockholders approved a reverse stock split, pending the final ratio determination by the Board of Directors. Today, shares sold by over 24% in trading.

Wheeler Real Estate Investment Trust Inc. (NASDAQ: WHLR)

Exactly one week ago, Wheeler Real Estate Investment Trust Inc. (NASDAQ: WHLR), also known as Wheeler, regained compliance with the NASDAQ minimum bid price requirement. The company received a notification letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC on September 1, 2023, confirming this development.

Besides this news, no other announcements have been made. Shares sold by 22.69% in trading Friday.