HomeMarket NewsMicro Cap StocksZscaler, Inc. Faces Market Tumble as Other Stocks Shine in Mid-Day Trading

Zscaler, Inc. Faces Market Tumble as Other Stocks Shine in Mid-Day Trading

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Shares of Zscaler, Inc. ZS plummeted during Fridayโ€™s trading session in response to the companyโ€™s second-quarter performance.

Zscaler reported strong earnings and sales for the second quarter, predicting a robust fiscal year 2024 performance with expected non-GAAP income from operations likely to range between $395 million and $400 million. Net income per share is anticipated to fall between $2.73 and $2.77.

Unfortunately, Zscalerโ€™s stock took a hit, plunging by 10.1% to $217.43 on Friday.

Meanwhile, while Zscaler struggles, other stocks are experiencing a surge during the mid-day session.

Winners of the Day

  • BioVie Inc. BIVI witnessed a substantial increase of 96.1%, jumping to $2.4319. The companyโ€™s Ne3107 has shown promising signs in alleviating symptoms for Parkinsonโ€™s disease patients and potentially aiding in the treatment of Alzheimerโ€™s patients.
  • Adial Pharmaceuticals, Inc. ADIL surged 68.4% to $3.4350 after being awarded a new patent for AD04, offering hope for those combating opioid use disorder.
  • Cardiff Oncology, Inc. CRDF saw its shares climb 41.5% to $2.50 following a positive fourth-quarter financial report and encouraging updates on its clinical trials.
  • Minim, Inc. MINM rose by 41.4% to $6.09 after appointing David Lazar as the CEO and CFO, marking a significant change in leadership structure.
  • The RealReal, Inc. REAL soared 39.1% to $2.4613 following a strong quarterly performance.

  • Financial Markets Recap

    Market Winners and Losers: A Financial Rollercoaster

    The Victors โ€“ Surging Ahead

    • The Cooper Companies, Inc. COO rose 7.4% to $100.61. This growth follows the companyโ€™s stellar first-quarter financial results that surpassed expectations, leading to an optimistic guidance update.
    • Fortress Biotech, Inc. FBIO surged 120.3% to $9.81 after receiving a bullish analyst upgrade and a significant price target hike from $26 to $60.

    The Fallen โ€“ Tumbling Down

    • GigCapital5, Inc. GIA plummeted 60.7% to $4.35. The drop came following GigCapital5โ€™s announcement of a closure date for a business combination with QT Imaging.
    • Fisker Inc. FSR nosedived 44.6% to $0.4035 after reporting lower-than-expected fourth-quarter revenue and expressing doubts about its continuity in its upcoming annual financial filings.
    • Sidus Space, Inc. SIDU declined 39.9% to $5.41, attributed to a priced public offering of 1,321,000 Class A common shares at $6 each.
    • Scilex Holding Company SCLX dropped 39.7% to $1.37 after announcing a $10 million bought deal offering.
    • DermTech, Inc. DMTK slid 32.8% to $0.86 due to disappointing quarterly revenue results.
    • Precision BioSciences, Inc. DTIL fell 31.7% to $12.62 following a $40 million offering of common stock and warrants.
    • Volcon, Inc. VLCN tumbled 30.1% to $0.93.
    • Tritium DCFC Limited DCFC dipped 27.4% to $0.1031.
    • Vivani Medical, Inc. VANI declined 27% to $3.0798 after announcing a $15 million registered direct offering of common stock and warrants.
    • Humacyte, Inc. HUMA extended 25.3% to $3.2450. Humacyte conducted a $40.2 million public offering of common stock at $3 per share.
    • New York Community Bancorp, Inc. NYCB decreased 24.2% to $3.6301, prompted by the identification of internal control weakness and a leadership transition announcement.
    • JAKKS Pacific, Inc. JAKK slumped 23.7% to $26.79 following an underwhelming quarterly performance.
    • TTEC Holdings, Inc. TTEC dipped 22.6% to $13.50 after mixed fourth-quarter results and a weaker-than-expected FY24 adjusted EPS and revenue outlook.
    • Gritstone bio, Inc. GRTS dropped 20.5% to $2.2250 following a substantial workforce reduction announcement.
    • NCR Voyix Corporation VYX declined 19.8% to $11.72, with preliminary FY23 revenue estimated at $3.830 billion.
    • Cue Health Inc. HLTH shares fell 15.6% to $0.2699 despite receiving a European patent grant for โ€œSystems and Methods for Detection and Quantification of Analytes.โ€
    • P10, Inc. PX dropped 15.2% to $7.86 following fourth-quarter results.
    • Elastic N.V. ESTC shares dipped 14.1% to $114.91 after the companyโ€™s third-quarter financial report.
    • American Coastal Insurance Corporation ACIC slid 13.1% to $12.11 due to weak sales performance.
    • B. Riley Financial, Inc. RILY decreased 12.5% to $15.96 post announcement of fourth-quarter results and initiation of a strategic review for divisions within the company.
    • SoundHound AI, Inc. SOUN saw an 11.6% decline to $6.56 following weaker-than-anticipated fourth-quarter financial results.
    • Senseonics Holdings, Inc. SENS dropped 10.1% to $0.6311 after fourth-quarter financial outcomes.
    • Ginkgo Bioworks Holdings, Inc. DNA fell 9.7% to $1.3715 due to weaker-than-expected fourth-quarter results and below-par FY24 revenue forecasts.
    • Ginkgo Bioworks Holdings, Inc. DNA declined 9.5% to $1.3750 following disappointing quarterly results.
    • Xcel Energy Inc. XEL dropped 6.4% to $49.29.


    Now Read This: Jim Cramer Says This Is A โ€˜Smart Consulting Company,โ€™ Calls Commercial Metals Company A Winner

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