Shares of FuboTV, QuantumScape, Arcturus among others made the biggest move on Wednesday 23/12/2020 trading day. The highlighted stocks traded in the lower region, and we have stated the reasons for the movement to help with insights on your investment decisions.
Arcturus Therapeutic Holdings Inc (ARCT)
The company’s shares traded lower after Roth Capital analyst Elemer Piros downgraded the stock from Buy to Sell and announced a price target of $77 per share. The stock plunged 14% as the analyst noted that there could be a number of advantages to Arcturus’ covid vaccine including a lower dose, potential single dose and storage advantage, the efficacy bar is “significant at over 90%, he said. The stock had closed up 5% to $118.46, opened Wednesday at $108.69 to close at $101.
FuboTV Inc (FUBO)
Shares of FuboTV traded lower following a downgrade by BMO Capital from Outperform to Market Perform and announce a $50 price target. The stock was down 15%. It had previously surged more than 25% after on Tuesday after Needham raised its price target from $30 to $60 per share. The stock also jumped over 26% Monday following an Axios report that it was considering forming exclusive partnership deals for live sports events.
It opened Wednesday’s trading at $55 to close at $52.59.
QuantumScape Corp. (QS)
The company’s shares traded in the lower region after the stock surged Tuesday on reports Apple is working on self-driving EV. The company make lithium-metal battery for use in electronic vehicles. It dropped around 15.86% having started the day’s trading at $121 to close at $110.