Midday Stock Movers: Stryker and Mullen Automotive Hit by Short Reports
2022.04.06 19:16
By Sam Boughedda
Investing.com — U.S. stock indices are down once again Wednesday, with the Nasdaq decreasing 2.4% and the S&P 500 declining 1.22%. Here are the midday movers on Wednesday, April 6th.
Mullen Automotive Inc (NASDAQ:MULN) is down 4.6% after Hindenburg Research released a short report on the company, claiming it is “yet another fast talking EV hustle.”
Stryker Corporation (NYSE:SYK) is trading 2.94% lower midday following a short report from Spruce Point Capital highlighting the company’s debt and the fact it has just $1.5 billion of unrestricted cash.
Gogo Inc (NASDAQ:GOGO) is up 11.33% on the news it will replace SPX FLOW Inc (NYSE:FLOW) in the S&P SmallCap 600 before the open on Friday.
Despite revenue missing analyst expectations, Tilray Inc (NASDAQ:TLRY) reported a profit, sending its shares higher. The stock is trading 12.4% higher midday.
Spirit Airlines (NYSE:SAVE) shares have regained some of the initial losses from earlier in the session, but still trade 1.5% lower after Tuesday’s surge, which followed news of a bid from JetBlue.
On the other hand, JetBlue Airways (NASDAQ:JBLU) has fallen more sharply by 5.76%. When confirming its offer for Spirit, JetBlue said its bid is the “most attractive opportunity” for Spirit investors.
