U.S. stocks rallied on Monday after President Donald Trump signed a Covid-19 aid bill. The Dow Jones Industrial Average gained 0.7 percent, the Nasdaq Composite advanced 0.7 percent, and the S&P 500 increased 0.9 percent. Here are the top gainers and losers of today’s trading session.
Aprea Therapeutics Inc. (APRE) stock plunged nearly 80 percent on Monday after the Boston, Massachusetts-based biopharmaceutical company said that the late-stage clinical trial of its Myelodysplastic syndromes (MSD) treatment did not meet its primary endpoint. The announcement is a massive setback for the company, which lost more than half its market value today.
Myovant Sciences Ltd. (MYOV) shares skyrocketed more than 26 percent this morning after the clinical-stage biopharmaceutical company announced that it has joined hands with Pfizer to develop a therapy for prostate cancer. The partnership could be worth $4.2 billion, subject to fulfillment of certain conditions. MYOV will receive an upfront payment of $650 million for developing the treatment.
Nikola Corp. (NKLA) shares rose more than 18 percent this morning despite receiving a downgrade from J.P. Morgan, which cut its price target for the electric truck maker from $40 per share to $35 per share. There was no apparent news behind today’s surge. NKLA share price fell more than 20 percent during the previous week after the company ended its deal with Republic Services for manufacturing 2,500 garbage trucks.
CleanSpark Inc. (CLSK) stock rose more than 17 percent this morning apparently after Bitcoin’s recent rally. Bitcoin surpassed a record price of $28,000 on Sunday. Separately, CLSK said that it will discuss its Bitcoin mining progress and recently revised outlook for 2021 at the Water Tower Research Fireside Chat Series that will be held on Tuesday.
Lemonade Inc. (LMND) shares fell nearly 14 percent in the mid-day trading Monday, just a day before the expiry of insider selling restrictions. Today’s decline is the steepest since the New York-based insurance company’s IPO in July. About 44 million shares of LMND’s common stock will be available for sale on Tuesday.
Weibo Corp. (WB) shares fell 13.50 percent on Monday after the Chinese social network company reported a drop in its third-quarterly earnings and revenue on a year-over-year basis. The company earned 15 cents per share for the quarter, well below 64 cents per share in the same period of 2019. Revenue also decreased to $465.7 million in the quarter, versus $467.8 million in the year-ago quarter.
Marathon Patent Group Inc. (MARA) shares jumped more than 12 percent today after the leading enterprise Bitcoin self-mining company announced that it has inked an agreement to buy 70,000 Antminer S-19 ASIC miners from Bitmain in a transaction valued at $170 million. MARA expects to receive the first batch of S-19 miners by July next year, and the final batch by the end of 2021.
Chewy Inc. (CHWY) shares fell more than 10 percent this morning apparently on last week’s news that the company’s CFO Mario Marte sold 45,692 shares of CHWY for total proceeds of $4.6 million, translating to an average price of $100.4 per share. The transaction occurred on December 21. Overall, the Florida-based online retailer of pet food has performed well this year. Its stock value has increased about 221 percent on a year-to-date basis.
Moderna Inc (MRNA) shares extended their downward movement for the second consecutive trading session today. Its share price fell nearly 10 percent on Monday. There are multiple reasons behind the recent stock slide. Earlier this month, the company lifted a ban, which previously restricted certain executives from selling the stock. Moreover, some investors believe that the approval of Covid-19 vaccines from rivals including AstraZeneca, Johnson & Johnson, and Novavax may hurt the share price of MRNA stock.
Ideanomics Inc. (IDEX) stock surged over 5 percent in the mid-day trading Monday after the financial technology company said that its Mobile Energy Global (MEG) division has made an agreement to buy 2,000 electric vehicles (EVs) that it intends to deploy across China for ride-hailing services. It expects to receive the deliveries of the said EVs during the first half of 2021.
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Disclosure: None. 10 Biggest Stock Gainers and Losers Today is originally published at Insider Monkey.