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Choppy Waters: Tesla, Spirit Airlines, New York Community Bancorp, and Other Titans Take a Dive

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On Monday, the Dow Jones index took an 80-point hit, setting the tone for a grim trading day in the U.S.

One standout amongst the casualties was Tesla, Inc. TSLA, with shares slipping due to reports of a slump in February sales in China.

Tesla’s China sales declined, with 60,365 electric vehicles sold in February, as per data from the China Passenger Car Association. The finer details of exports versus domestic sales will come to light with the detailed report in a week.

Tesla shares took a hefty tumble of 5.4% to $191.79 on the troubling news.

Here’s a quick rundown of other significant stocks taking a beatdown today.

  • MMTec, Inc. MTC saw a candid plunge of 21.8% to $2.00.
  • Avidity Biosciences, Inc. RNA slid 16.6% to $16.78. The company shook investors with new Marina-OLE trial data showing disease progression reversal in Myotonic Dystrophy Type 1 patients.
  • Playtika Holding Corp. PLTK took a somber dip of 14.8% to $6.44
  • New York Community Bancorp, Inc. NYCB skidded 13.6% to $3.0650 post-announcement of internal control shortcomings linked to loan review.
  • Spirit Airlines, Inc. SAVE nosedived 12.1% to $5.68 following the abandonment of its merger pact with JetBlue.
  • Lyell Immunopharma, Inc. LYEL dropped 12.1% to $2.70.
  • Sabre Corporation SABR declined 11.6% to $2.3050. Sabre revealed an exchange deal involving senior notes.
  • Li Auto Inc. LI plummeted 11.6% to $38.49 despite an optimistic price target raise from B of A Securities.
  • Revance Therapeutics, Inc. RVNC saw an 11.2% drop to $6.20 due to a recent public stock offering.
  • Beyond Meat, Inc. BYND plunged 11.3% to $8.67 after disclosure of difficulties in filing an annual report and plans for additional capital raise in 2024.
  • Cytek Biosciences, Inc. CTKB stumbled 11.1% to $8.14 post non-timely 10-K filing with the U.S. SEC.
  • Sana Biotechnology, Inc. SANA dipped 10.8% to $10.04 despite favorable year-over-year financial results.
  • ADS-TEC Energy PLC ADSE fell 10.5% to $9.71.
  • ACM Research, Inc. ACMR saw a 10.6% decline to $30.32.
  • EyePoint Pharmaceuticals, Inc. EYPT dropped 9.5% to $25.33 following the appointment of a new Chief Medical Officer.
  • Omeros Corporation OMER stumbled 9.3% to $4.3350.
  • iRhythm Technologies, Inc. IRTC took a 9% dip to $109.64 amidst the announcement of a proposed convertible senior notes offering.
  • Hertz Global Holdings, Inc. HTZ dipped 7.2% to $7.26.
  • NIO Inc. NIO declined 6.9% to $5.38.
  • Rivian Automotive, Inc. RIVN experienced a 6.8% fall to $10.58.
  • Victoria’s Secret & Co. VSCO dropped 5.8% to $26.77.
  • Unity Software Inc. U witnessed a 5.3% decrease to $27.36.

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