Shares of FuboTV, Luminar, Allovir among others made the biggest move on Wednesday 24/12/2020 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.
FuboTV Inc (FUBO)
The shares have slumped 30% in the last two trading days to around $44 a share, including a 15% slide on Thursday. It had dropped 15% on Wednesday after reaching an all-time high of $62 the day before. FuboTV opened trading at $50.53 to close at $44.18.
The company had its price target boosted by Needham & Company LLC from $30 to $60 in a report released on Tuesday with a buy rating on the stock. Despite the drop, the shares appears to be trading within normal range and it is expected to recover.
Allovir Inc (ALVR)
Although shares of Allovir traded within normal range on the day, it dropped about 13% from an opening price of $46.23.66 to close at $40.46. Analyst had predicted that the stock would increase over 30% in the next twelve months with an average rating of strong buy.
Luminar Technologies (LAZR)
Shares of LAZR traded within normal range but witnessed a drop of about 7% opening at $34.17 to close at $33.06 on the day. The company’s shares had dropped 5% the previous day following Baird’s neutral rating calling it ‘speculative’ investment due to high number of uncertainties.
Ontrak Inc OTRK
Ontrak shares dropped 8.79% on Thursday which is still within its normal range. Starting price was $74.34 to close the day’s trading at $67.32. The company operates an artificial intelligence powered, virtualized healthcare treatment provides in-person or telehealth intervention services to health plans and other third party payors. It has a buy rating from analysts with a consensus price target at $88 as reported by MaketBeat.