VALN - Hot Stocks: CXW hits high on upgrade; CMBM plunges; VALN PTGX move on regulatory decisions

Headed into a three-day holiday weekend, stocks lost ground on Thursday, reversing an attempted recovery posted in the previous session. Tech stocks led the retreat, contributing to a 2.1% slide in the Nasdaq. Drug development news provided a significant catalyst during the session. Valneva (VALN) posted a double-digit percentage gain on news that U.K. regulators have approved its COVID vaccine. Meanwhile, a U.S. regulatory reversal sparked selling in Protagonist Therapeutics (PTGX). In other news, CoreCivic (NYSE:CXW) rallied on a bullish analyst comment, climbing to a new 52-week high. At the same time, Cambium Networks (CMBM) dropped to a new low on a disappointing forecast and a major C-Suite change. Standout Gainer Valneva (VALN) soared after receiving U.K. regulatory approval for its COVID vaccine. Bolstered by the news, VALN climbed more than 12%. The company said the U.K.'s Medicines and Healthcare products Regulatory Agency granted conditional marketing authorization, the first drug

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Hot Stocks: CXW hits high on upgrade; CMBM plunges; VALN, PTGX move on regulatory decisions