GameStop, Viking Therapeutics, and Dow Jones Transportation Index see significant midday stock price changes
Several companies saw significant movement in midday trading. Trump Media & Technology experienced a more than 13% drop following a debate between major shareholder former President Donald Trump and Democratic Vice President Kamala Harris. Rentokil Initial shares plummeted over 20% after announcing a slowdown in second-half organic sales growth for North America. GameStop, a meme stock, saw a decrease of more than 15% after reporting a sharp decline in second-quarter sales. Novartis also slipped nearly 2% after a downgrade from Bank of America. On a positive note, Viking Therapeutics saw a 7% increase after receiving an overweight rating from JPMorgan. Crypto Stocks were dragged down by a slight fall in bitcoin prices, with Coinbase and MicroStrategy seeing 2% and 1% drops, respectively. Solar Stocks surged after Vice President Kamala Harris’s debate performance boosted confidence in a Democratic victory at the U.S. presidential election, with the Invesco Solar ETF (TAN) jumping 5%. First Solar, SolarEdge Technology, Sunnova Energy, and Sunrun all saw gains. Morgan Stanley and Bank of America experienced losses after downgrades and share sales by Warren Buffett’s Berkshire Hathaway.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.