Shares of GameStop (GME), Acorda Therapeutics (ACOR), Foresight Autonomous Holdings (FRSX), and HEXO Corp (HEXO) were among market movers on Wednesday. We have highlighted below some of the reasons for the upward or downward movements.
Foresight Autonomous Holdings (FRSX)
Shares of FRSX popped upwards when the company announced that its eye-net subsidiary has initiated a pilot project with a global vehicle manufacturer. The pilot will be conducted with the intelligent transport system division of a Japanese vehicle manufacturer.
Foresight Autonomous shares went up 69% at $6.97 from its previous day closing at $4.10. The stock has a 52-week high of $7.90 and a 52-week low of 46 cents.
GamesStop Corp. (GME)
GameStop traded higher following the recent addition of new board members, including from Chewy. Baird analyst Wednesday said new board configuration could suggest comapny is accelerating its digital transformation plan.
The share went up 57% from its previous day closing at $19.95 to $31.40 on the trading floor.
Acorda Therapeutics, Inc. (ACOR)
Shares of Acorda rose 44.34% following the company’s announcement that it will sell its INBRIJA manufacturing operations to Catalent for $80 million in cash. It moved from its previous day closing at $4.24 to $6.12 in Wednesday’s session.
HEXO Corp (HEXO)
Shares of Hexo climbed after the Canadian cannabis company and Molson Coors unveiled the U.S. launch of Verywell, a line of non-alcoholic sparkling CBD beverages, available exclusively in Colorado, through their joint venture, Truss CBD USA. The share price moved from its $5.35 previous day closing $6.27
Marathon Patent Group (MARA)
The company’s shares plunged after it announced a 12.5 million share registered direct offering of common stock priced at $20 per share. The price of the stock dropped from its previous day closing at $26.15 to close at $23. It’s share was down 12% on the day’s trading.