Peraso Inc. Falters In Q4 Earnings, Shares Plummet Over 23% While Other Stocks Flourish Mid-Day

Peraso Inc.’s shares stumbled immensely in today’s mid-day session following a disappointing fourth-quarter earning report.

Peraso disclosed a striking quarterly loss of $8.52 per share, a far cry from the estimated loss of $3.76 per share. Moreover, the company’s reported sales of $1.83 million were slightly higher than the anticipated $1.70 million.

As a result, Peraso’s shares plummeted by a staggering 23.3% to $1.32 on Tuesday.

The dismal performance of Peraso was a stark contrast to several other stocks that were thriving in the mid-day session today.

Movers and Shakers

Ontrak, Inc. OTRK witnessed a remarkable surge of 197.8% to $0.5660 just ahead of the company’s presentation at the 36th Annual Roth Conference.
Fusion Pharmaceuticals Inc. FUSN soared 97.3% to $20.99 upon agreeing to be acquired by AstraZeneca. Additionally, Leerink Partners downgraded the stock from Outperform to Market Perform while increasing the price target from $17 to $21.
SCWorx Corp. WORX experienced a robust gain of 74% to $3.22.
Spire Global, Inc. SPIR surged by 50.7% to $18.50 after announcing a collaboration with NVIDIA to enhance AI-driven weather forecasting.
Enveric Biosciences, Inc ENVB witnessed a significant uplift of 43.6% to $1.5801 following plans to out-license cannabinoid-COX-2 conjugate compounds for treating joint diseases.
Zoomcar Holdings, Inc. ZCAR rose by 33.1% to $1.57 after unveiling a partnership with EaseMyTrip for integrating its cars into the travel platform.
Hoth Therapeutics, Inc. HOTH surged by 32% to $1.51 after showcasing promising pre-clinical research on HT-ALZ for Alzheimer’s disease.
Enliven Therapeutics, Inc. ELVN rose by 27.2% to $16.09 post announcing a $90 million private placement financing and providing pipeline updates.
National CineMedia, Inc. NCMI witnessed a surge of 25.5% to $5.30 after posting positive fourth-quarter results and revealing a new $100 million share repurchase program. The company also forecasted first-quarter total revenue ranging from $34.5 million to $35.5 million.
Binding Healthcare, Inc. ALHC climbed by 17.7% to $5.50.
Crinetics Pharmaceuticals, Inc. CRNX rose by 15% to $43.63 following successful Phase 3 trial results of paltusotine in acromegaly that met all primary and secondary endpoints.
Li-Cycle Holdings Corp. LICY saw a rise of 14% to $1.2540 after announcing advancements in enhancing its liquidity position and conducting an internal technical assessment of the Rochester Hub.
Verb Technology Company, Inc. VERB bounced back with a 12.5% increase to $0.4055 after a significant fall of over 18% on Monday. The company recently launched its Market.live Facebook and Instagram social shopping technology integration.
Monopar Therapeutics Inc. MNPR rose by 12% to $0.75.
Nordstrom, Inc. JWN gained 11.9% to $19.10 following reports of the company’s potential transition to private under the guidance of Morgan Stanley and Centerview Partners.
Alpine Immune Sciences, Inc. ALPN saw an increase of 10.3% to $39.13 post-announcement of its fourth-quarter earnings.
Nocturne Acquisition Corporation MBTC witnessed a rise of 10% to $11.00.
DocGo Inc. DCGO saw an increase of 10% to $4.0550 post announcing repurchases of common stock and adopting a 10b5-1 trading plan for its share repurchase program.
Augmedix, Inc. AUGX witnessed a rise of 9.3% to $3.6399 following positive fourth-quarter results.
International Paper Company IP climbed by 7% to $37.38. The company appointed Andrew Silvernail as the Chief Executive Officer after a thorough evaluation process.

Underperformers

Greenwave Technology Solutions, Inc. GWAV underwent a sharp decline of 56.2% to $0.1634 due to a restructuring of its senior secured debt.
Seelos Therapeutics, Inc. SEEL plummeted by 46.6% to $0.4901 post its ALS study results with SLS-005 failing to meet statistical significance in primary and secondary endpoints in the Full Analysis Set.
Comtech Telecommunications Corp. CMTL fell by 26.7% to $3.37 following disappointing quarterly results.
Solowin Holdings

The Great Wall Street Tumble: Companies Navigate Choppy Waters
- SWIN shares plummeted 24.7% to $5.80 as the company unveiled its H1 2024 financial results.
- NuScale Power Corporation witnessed a 23.8% drop in SMR stock to $7.69 post Wells Fargo’s downgrade and revised price target.
- Acutus Medical, Inc. shares of AFIB dipped 21.6% to $0.2055 after a 34% surge earlier, fueled by a European patent acquisition.
- Zepp Health Corporation saw a 17.2% decrease in ZEPP shares, closing at $1.01 after announcing quarterly results.
- HUYA Inc. observed a 15.5% decline in HUYA to $3.9887 following the announcement of its fourth-quarter FY23 revenue.
- Chijet Motor Company, Inc. experienced a 15.4% drop in CJET shares to $0.49 post a previous 18% climb.
- MicroStrategy Incorporated underwent a 14.8% slump in MSTR to $1,279.85 amidst a Bitcoin market downturn.
- DLocal Limited recorded a 14.3% decrease in DLO shares to $15.54 due to mixed Q4 results and leadership changes.
- ACM Research, Inc. faced a 13.5% reduction in ACMR to $24.76.
- ShiftPixy, Inc. PIXY shares fell 13.3% to $5.89 after a 100% surge on the preceding day.
- CleanSpark, Inc. witnessed a 12.7% drop in CLSK to $15.23 alongside a decrease in Bitcoin prices.
- JOANN Inc. shares dropped by 12.7% to $0.1597 following a 20% decline the day before, announcing strategic debt reduction measures.
- Super Micro Computer, Inc. saw a 12.2% decrease in SMCI to $878.99 after initiating a public offering of common stock.
- JOYY Inc. observed an 11.6% dip in YY to $29.50 post strong Q4 earnings announcements & a conservative Q1 revenue forecast.
- Direct Digital Holdings, Inc. witnessed an 11.4% decline in DRCT to $25.58.
- GigaCloud Technology Inc. faced an 11.3% drop in GCT to $30.33.
- StoneCo Ltd. saw a 9.4% decrease in STNE shares to $15.82 after announcing Q4 financial results.
- Marathon Digital Holdings, Inc. recorded an 8.7% decrease in MARA to $17.70 during the Bitcoin market pullback.
- Coinbase Global, Inc. saw an 8.1% decline in COIN to $220.14 amidst decreasing Bitcoin prices.
- Portage Biotech Inc. faced a 7.8% decline in PRTG shares to $0.53 after a modest gain the day before.
- Beyond Meat, Inc. observed a 7.3% drop in BYND shares to $7.70 following a mixed securities shelf offering filing.
- SoundHound AI, Inc. witnessed a 5.8% decline in SOUN to $7.76 after introducing a new in-vehicle voice assistant.
- Bitdeer Technologies Group faced a 5.6% drop in BTDR shares to $6.99 post registering a mixed shelf offering.
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