Top Stock Market Losers: BRSH, FL, TIVC, SUNL, GRI

WISCONSIN (CoinChapter.com) — The yield on the 10-year US Treasury note decreased from nearly 16-year highs as a result of dismal business activity statistics from the United States and the Euro Zone that suggested global disinflation — this gave stocks an additional lift.

Here are the five stock market losers:

Bruush Oral Care Inc. (NASDAQ: BRSH)

Brüush Oral Care Inc. (NASDAQ: BRSH), a significant player in the direct-to-consumer oral care sector, had no news today, contributing to the stock’s 36.31% sell-off. The most recent announcement was a 1-for-25 reverse stock split as of July 31, 2023.

Foot Locker Inc. (NYSE: FL)

Foot Locker Inc.’s (NYSE: FL) second-quarter earnings met expectations.

However, sales significantly missed estimates, leading to a sharp decline in the company’s stock value. The footwear and apparel retailer reported a 9.9% decrease in sales to $1.86 billion, attributing the disappointing performance to “ongoing consumer softness.”

The company has subsequently reduced its full-year outlook. The news triggered a 25% drop in Foot Locker’s stock at the opening of Wednesday’s trading session. The company also reported a striking 96.4% decrease in non-GAAP earnings per share (EPS) down to 4 cents.

Tivic Health Systems Inc. (NASDAQ: TIVC)

Tivic Health Systems Inc. (NASDAQ: TIVC), a leading player in the health technology space that specializes in the development and commercialization of bioelectronic medicine, has announced a change in its stock structure.

The company’s Board of Directors declared a 1-for-100 reverse stock split of its issued and outstanding shares of common stock, which took effect today. Post this, Tivic’s common stock is anticipated to commence trading on a split-adjusted basis under the existing NASDAQ trading symbol “TIVC.”

Sunlight Financial Holdings Inc. (NYSE: SUNL)

Bragar Eagel & Squire, P.C., a preeminent shareholder rights law firm, has initiated an investigation into potential claims against Sunlight Financial Holdings Inc. (NYSE: SUNL). This action comes on behalf of the long-term shareholders post a class action lawsuit filed against Sunlight on December 16, 2022.

The class period under scrutiny spans from January 25, 2021, to September 28, 2022. This investigation by Bragar Eagel & Squire revolves around the pressing question of whether Sunlight’s board of directors has violated their fiduciary responsibilities towards the company.

GRI Bio Inc. (NASDAQ: GRI)

GRI Bio Inc. (NASDAQ: GRI), a biotechnology firm focused on the advancement of NKT cell modulators for treating inflammatory, fibrotic, and autoimmune diseases, has revealed its entry into an asset purchase agreement with Aardvark Therapeutics, Inc. — shares dropped 24.63% on the news.

As per the agreement, Aardvark will acquire specific assets and intellectual property related to ADAIR (Abuse Deterrent Amphetamine Immediate Release), owned by GRI Bio.