Top Five Stock Market Losers of 31/07/23: MRKR, SILC, BGLC, OKYO, SRFM

WISCONSIN (CoinChapter.com) — Last Friday, Marker Therapeutics Inc. experienced a significant drop in stock price by -22.24%, falling from $8.32 to $6.47. Trading today was no better as shareholders dumped the stock despite gains over the past two weeks.

Why These Stock Market Assets Declined

Marker Therapeutics Inc. (NASDAQ: MRKR)

On Friday, 28th July 2023, Marker Therapeutics Inc. experienced a significant drop in stock price by -22.24%, falling from $8.32 to $6.47.

That marked the third consecutive day of declines for the company. The Marker Therapeutics stock price exhibited considerable volatility on the day, with a 28.61% fluctuation ranging from a day low of $6.31 to a high of $8.11.

Despite the recent downward trend, the stock has seen an overall gain of 23% over the past two weeks. Today, trading volume escalated with 299 thousand shares changing hands, which could potentially serve as an early warning of increased risk in the upcoming days.

Silicom Ltd. (NASDAQ: SILC)

Silicom’s stock has decreased due to easing supply chain issues and component lead times.

As per Silicom’s Q2 2023 results, major customers have started to deplete their stockpiled inventories accumulated during the period of component shortages. Furthermore, the company’s recent design wins have not been as rapid or robust as initially expected, owing to the broad expectation of a decelerating macroeconomy.

Consequently, Silicom anticipates a more moderated Q3, with projected revenues falling between $30 and $31 million.

BioNexus Gene Lab Corp. (NASDAQ: BGLC)

The stock of BioNexus Gene Lab is experiencing a significant dip of more than 8% following a recent rally. This drop comes after a week in which shareholders in the company have already suffered losses, with the stock plummeting by 54%.

The decline has raised concerns among investors and highlights the volatility of the market. However, it’s important to note that BioNexus Gene Lab rebounded briefly after the drop, with shares increasing by 21% to $5.89.

This rebound came after the company priced its public offering of 1.25 million shares at $4 per share, generating total gross proceeds of $5.75 million. Despite the recent fluctuations in the stock price, BioNexus Gene Lab remains committed to developing safe, effective, and non-invasive liquid biopsy tests for early diagnosis and personalized health management in Southeast Asia.

Okyo Pharma Ltd. (NASDAQ: OKYO)

OKYO Pharma Limited (NASDAQ: OKYO), a leading ophthalmology-focused bio-pharmaceutical company, has recently announced the withdrawal of its proposed public offering of ordinary shares.

This decision was made in response to changing market conditions and the company’s commitment to prioritizing the best interests of its shareholders and stakeholders. CEO Gary Jacob emphasized that the primary focus of OKYO Pharma remains on advancing research and development initiatives.

The company is dedicated to developing novel molecules to address the significant unmet need in the multi-billion-dollar market for dry eye disease (DED) and chronic pain. Due to the withdrawal of the public offering, shareholders sold off today.

Surf Air Mobility Inc. (NYSE: SRFM)

Surf Air Mobility Inc. (NYSE: SRFM), a company in the aviation industry, made its stock debut last week at $5.

However, the stock experienced a significant tumble shortly after its initial trading. As of today, the stock has fallen by 20% to $2.03. The decline in stock value prompted a trading halt due to volatility. This sudden decrease in stock price highlights the risks associated with investing in the stock market and serves as a reminder that past performance does not guarantee future results.