The market witnessed a sharp downturn in Butterfly Network, Inc. BFLY stocks during Thursday’s session, leaving investors anxious. The company reported mixed fourth-quarter financial results, revealing a GAAP loss of 21 cents per share contrary to the market’s anticipation of a 14 cents per share loss. Despite quarterly sales surpassing estimates by hitting $16.52 million instead of the predicted $15.35 million, shares plummeted by 21.7% to $1.1588 on Thursday.

While Butterfly Network may have hit a bump in the road, other stocks were on a high, dancing skyward during the mid-day session. Let’s take a glimpse at some of the shining stars.

Thrivers

• Enveric Biosciences, Inc. ENVB took the lead, soaring a remarkable 177.1% to $2.30 after announcing it has penned three non-binding term sheets with an undisclosed biotechnology entity, embarking on a journey towards the out-licensing of compounds.
• Societal CDMO, Inc. SCTL watched its shares escalate by 132.7% to $1.07 as the company embraced an acquisition pact with CoreRx, Inc., propelling its trajectory northward.
• Volcon, Inc. VLCN surged by 55.4% to $1.8802, electrifying the market after already advancing by 39% on the prior trading day.
• Sidus Space, Inc. SIDU made a stellar ascent of 39.7% to $7.78, reaching for the stars in today’s trading landscape.
• Ocean Biomedical, Inc. OCEA surged by 36.4% to $2.1008, making waves after its joint venture partner, Virion Therapeutics, announced their upcoming presentation of clinical study data at the prestigious 2024 APASL Global Liver Meeting.
• Inseego Corp. INSG floated up by 34.5% to $3.00, showcasing its potential to navigate turbulent market waters.
• Vertex, Inc. VERX jumped 29.8% to $32.97 post their stellar fourth-quarter results, setting a course towards a robust fiscal year 2024.
• iHeartMedia, Inc. IHRT serenaded investors with a 29.1% leap to $2.93 subsequent to unveiling their fourth-quarter results.
• Agrify Corporation AGFY flourished by 27% to $0.6161, celebrating a $3.4 million sales order from the New Jersey woman-owned business, HarvestWorks Farm, in a fruitful collaboration.
• Renalytix Plc RNLX climbed by 26.5% to $1.05, rejoicing in the US approval to include the company’s kidneyintelX.dkd in its 10-year Governmentwide Acquisition Contract effective March 1.
• Tutor Perini Corporation TPC escalated by 26% to $11.64 post their fourth-quarter results, exuding confidence in their operational prowess.
• Bright Scholar Education Holdings Limited BEDU shined by 25.3% to $2.3178, illuminating the market with their educational initiatives.
• C3.ai, Inc. AI advanced by 24.6% to $37.00, riding high after reporting exceptional third-quarter financial results.
• Sterling Check Corp. STER surged by 24.6% to $15.49 following the company’s agreement to be acquired by First Advantage for a whopping $2.2 billion, encompassing existing debts.
• Adial Pharmaceuticals, Inc. ADIL gained 24% to $2.00, reveling in the issuance of a new patent covering AD04 for potential applications in treating opioid use disorder.
• Revance Therapeutics, Inc. RVNC surged by 24% to $7.02 post their exceptional quarterly financial results, sending a positive shockwave through the market.
• Latham Group, Inc. SWIM scaled by 22.8% to $3.36, making a splash in today’s trading session.
• Avidity Biosciences, Inc. RNA climbed by 22.5% to $18.70 after announcing a flourishing $400 million private placement.
• Pure Storage, Inc. PSTG soared by 21.9% to $51.35 post their exceptional fourth-quarter financial results and bullish first-quarter revenue guidance, drawing positive appraisals from UBS.
• Duolingo, Inc. DUOL advanced by 21.6% to $237.82 after their remarkable fourth-quarter financial results and optimistic guidance for the future.
• Okta, Inc. OKTA lifted by 19.8% to $104.55 following their stellar fourth-quarter financial results and uplifting guidance.
• Mersana Therapeutics, Inc. MRSN surged by 19.5% to $5.80 post their fourth-quarter financial results, exuding promise in the market.
• Establishment Labs Holdings Inc. ESTA climbed by 17.8% to $45.31 after impressing with their strong fourth-quarter financial results.
• Montrose Environmental Group, Inc. MEG escalated by 16.7% to $38.52 following their quarterly financial reports.
• ORIC Pharmaceuticals, Inc. ORIC climbed by 16.1% to $13.65, fueling optimism in the therapeutic realm.
• SunOpta Inc. STKL surged by 15% to $6.91 following a robust quarter of financial performance, basking in the market’s warmth.
• TaskUs, Inc.
  

  Riding the Waves: A Rollercoaster Day in the Stock Market

  • TASK TASK surfed the bullish tide, soaring 14.4% to $14.17 after presenting a stellar set of quarterly figures.
  • Magnite, Inc. MGNI danced up 13.8% to $11.93 on the heels of robust quarterly results.
  • Indaptus Therapeutics, Inc. INDP rode the wave, gaining 13.8% to $2.23.
  • Hayward Holdings, Inc. HAYW surged 13.7% to $14.88 after delivering a stellar performance in the latest quarter.
  • Hormel Foods Corporation HRL leaped 12.8% to $34.81 following an earnings report that exceeded expectations for the first quarter and a reaffirmation of their FY24 outlook.
  • Nxu, Inc. NXU took flight, with shares rising 9.2% to $0.7750. Nxu announced complete compliance with Nasdaq’s maintenance standards.
  • NFT Limited MI shares sprinted up 7.9% to $0.2374.
  • Sprinklr, Inc. CXM rose 7.9% to $13.56. Sprinklr will replace Veradigm in the S&P SmallCap 600 effective before the start of trading on March 4, 2024.
  • Papa John’s International, Inc. PZZA ascended 6.8% to $74.89 after a strong quarterly financial performance.

  On the Flip Side: Stocks That Faced Turbulence

  • J-Long Group Limited JL tumbled 46.3% to $6.86. J-Long Group declared a special cash dividend totaling $6 million.
  • Golden Minerals Company AUMN slipped 40.4% to $0.3163, announcing a cessation of operations at its Velardeña Properties in Durango State, Mexico.
  • LivePerson, Inc. LPSN endured a 40% decline to $1.43 following the release of its fourth-quarter financial outcomes.
  • NWTN Inc. NWTN dropped 40% to $2.99.
  • Endava plc DAVA saw a 40% decrease to $38.31 post their second-quarter earnings announcement.
  • Kineta, Inc. KA plummeted 39.7% to $1.3801 with an exploration of strategic alternatives on the horizon.
  • Ironwood Pharmaceuticals, Inc. IRWD tumbled 39% to $9.23 after a Phase 3 trial for apraglutide did not meet key endpoints.
  • Xometry, Inc. XMTR fell 37.4% to $18.84 post-revealing lower-than-expected fiscal fourth-quarter results, a weak first-quarter outlook, and news of a CFO transition.
  • Grifols, S.A. GRFS nosedived 36.7% to $5.91.
  • The Chemours Company CC shares dove 33.7% to $19.05. The Chemours Company appointed Denise Dignam as CEO on an interim basis, along with Matt Abbott as interim CFO, and disclosed preliminary 2023 results.
  • Bakkt Holdings, Inc. BKKT stumbled 33.4% to $0.6792 post-announcement of two securities purchase deals.
  • CommScope Holding Company, Inc. COMM wavered, dropping 30% to $1.2950 following financial fourth-quarter results below expectations.
  • Critical Metals Corp. CRML slid 25.2% to $11.43.
  • Gyre Therapeutics, Inc. GYRE tumbled 22% to $19.34.
  • Lotus Technology Inc. LOT faltered 21.8% to $7.71.
  • BYND Cannasoft Enterprises Inc. BCAN shares dipped 20.2% to $0.1621 as they inked production agreements for their EZ-G Device.
  • Snowflake Inc. SNOW shares stumbled 20.1% to $183.81. Snowflake recorded strong Q4 earnings but made headlines with CEO Frank Slootman’s decision to retire, naming Sridhar Ramaswamy as the new CEO effective immediately.
  • Schrödinger, Inc. SDGR shares declined 19.9% to $25.12 post-release of a mixed bag of fourth-quarter financial results.
  • Castle Biosciences, Inc. CSTL dropped 18.7% to $19.83 post their fourth-quarter financial results.
  • bluebird bio, Inc. BLUE skidded 18.2% to $1.3750.
  • Inari Medical, Inc. NARI shares fell 18.1% to $47.50 following a fourth-quarter loss.
  • WW International, Inc. WW slipped 17.9% to $3.1350 after releasing fourth-quarter financial results and news of Oprah Winfrey not seeking re-election as a director.
  • uniQure N.V. QURE declined 16.7% to $5.57 after being downgraded and receiving a price target cut by Goldman Sachs analyst Salveen Richter.
  • Amarin Corporation plc AMRN suffered a$further>`
    

    
    
    

    Market in Turmoil: Varied Woes Hit Diverse Companies

    Trading Bumps and Bruises

    • Oncternal Therapeutics, Inc. ONCT took a tumble of 16.7% to $1.09 post its quarterly results.
    • DoubleVerify Holdings, Inc. DV experienced a sharp 16.6% decline to $32.71 after its fourth
      quarter financial report.
    • Shoals Technologies Group, Inc. SHLS saw a significant 16.3% drop to $12.89
      following a disappointing fourth-quarter financial performance and below-estimate FY24 revenue forecast.
    • Milestone Pharmaceuticals Inc. MIST witnessed a downward shift of 16% to
      $1.7897 after revealing plans for a public offering of common shares and pre-funded warrants.
    • COMPASS Pathways plc CMPS slid 16% to $10.40 due to a
      wider-than-expected quarterly loss.
    • FIGS, Inc. FIGS faced a 15.4% drop to $5.10 after posting mixed quarterly
      financial results.
    • The Lion Electric Company LEV saw a decline of 12.6% to $1.46 following
      its fourth-quarter financial outcomes.
    • Cytek Biosciences, Inc. CTKB experienced a 12.2% fall to $7.67 after
      announcing its fourth-quarter financial results.
    • AMC Entertainment Holdings, Inc. AMC observed an 11.1% decline to $4.4350 after
      its quarterly results.
    • Titan International, Inc. TWI faced a 10% drop to $12.73 due to weak sales performance.
    • IonQ, Inc. IONQ shares declined by 7.2% to $10.45 following mixed fourth-quarter
      financial results.
    • Array Technologies, Inc. ARRY experienced a 5.8% fall to $13.27.
    • Bath & Body Works, Inc. BBWI went down 5.2% to $45.80 after reporting fourth-quarter
      earnings and issuing a disappointing FY24 outlook. The company also announced a $500 million stock buyback.
    • NetEase, Inc. NTES saw a 3.7% decrease to $108.03 post the company’s fourth-quarter
      financial results, falling below expectations.

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