5 Biggest Losers Today

In this article, we discuss the 5 biggest losers today. If you want to see some other stocks on the list, go directly to 10 Biggest Losers Today.

5. Darling Ingredients Inc. (NYSE:DAR)

Number of Hedge Fund Holders: 33

Shares of Darling Ingredients Inc. (NYSE:DAR) fell nearly three percent this morning after disclosing that it would acquire gelatin and collagen producer Gelnex in a cash transaction valued at $1.2 billion.

Darling Ingredients Inc. (NYSE:DAR) expects to close the deal in the first quarter of 2023. The acquisition will help the company to capitalize on the rapidly growing collagen market. Gelnex, which employs around 1,200 employees, exports collagen products to more than 60 countries across the globe.

Speaking on the development, CEO of Darling Ingredients Inc. (NYSE:DAR),  Randall C. Stuewe, said:

“Gelnex is a well-run business and will be immediately accretive. This acquisition will allow Darling to continue to grow its presence in the health and nutrition market and increases our production capacity for grass-fed bovine collagen in South America to help meet the future demand of our collagen customers worldwide.”