WISCONSIN (CoinChapter.com) — The S&P 500 had minor gains on yesterday’s last trading day of July, with an increase in the final ten minutes of trade. The NYSE’s market breadth maintained a bullish skew, with advancers outnumbering decliners by 2141/798.
Why These Stock Market Assets Declined
TG Therapeutics (NASDAQ: TGTX)
TG Therapeutics (NASDAQ: TGTX) provided a business update and release of Q2 2023 financial results. The highlight was that BRIUMVI® net sales totaled $16 million in the United States, reflecting a 100% quarter-over-quarter increase which was an overall net revenue of almost $24 million. Shareholders cheered the news with a 48% increase.
Aurora Acquisition (NASDAQ: AURC)
Today’s sell-off of Aurora Acquisition (NASDAQ: AURC) stock has nothing to do with bad news but rather profit-taking after yesterday’s update regarding the company’s anticipated special purpose acquisition company (SPAC) merger with Better.
The U.S. Securities and Exchange Commission approved the SPAC merger and by doing this, removed a barrier between the two joining forces.
ZoomInfo Technologies (NASDAQ: ZI)
Shares of ZoomInfo (NASDAQ: ZI) declined after the firm lowered its forecast for revenue, free cash flow, and earnings for the entire year. Following the news, Deutsche Bank lowered the shares to “hold” from “buy.
In its second-quarter results, it did post a beat. However, the business explained in its earnings call that a decline in customer behavior and mood could negate its gain.
Zenvia Inc. (NASDAQ: ZENV)
The reason for the drop in shareholder value for Zenvia Inc. (NASDAQ: ZENV) is short and sweet.
The cloud-based CX platform in Latin America today announced that results for the second quarter and first half of fiscal 2023 would be issued on Wednesday, August 16, 2023, following the market close. This in itself spurred a cautious mood among investors as they sold off heavily today, bringing the price per share to under $1.00.
Expensify Inc (NASDAQ: EXFY)
Expensify Inc. (NASDAQ: EXFY), a payments super-app that enables people and businesses worldwide to streamline the way they manage money across expenses, corporate cards, and bills, announced it would release second-quarter earnings on Tuesday, August 8th, 2023, following market close.
Shareholders sold positions to protect against any surprise earnings miss.