OCDX - Hot Stocks: CROX QDEL fall on M&A moves; OCDX rises; HYZN gets Buy rating; SFIX shareholder adds to stake
M&A activity had an outsized influence on Thursday's intraday trading as executives looked to close deals ahead of the pending holidays. Crocs (NASDAQ:CROX) was among the names lining up a transaction, with the stock losing ground in the wake of a multi-billion-dollar agreement to acquire footwear maker HEYDUDE. Quidel (NASDAQ:QDEL) also lost ground on a merger deal. Shares posted a double-digit percentage decline after the company reached an agreement to purchase Ortho Clinical (NASDAQ:OCDX). OCDX climbed on the news. In other news, Hyzon Motors (NASDAQ:HYZN) climbed following an analyst comment. Meanwhile, Stitch Fix (NASDAQ:SFIX) got a boost from word that a major shareholder expanded its holdings in the firm. Decliners Crocs (CROX) announced a deal to purchase private casual footwear maker HEYDUDE for $2.5B. The purchase price includes $2.05B in cash and $450M in company stock. Weighed down by the acquisition, CROX tumbled 13%. An M&A move also put pressure
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Hot Stocks: CROX, QDEL fall on M&A moves; OCDX rises; HYZN gets Buy rating; SFIX shareholder adds to stake