RNG - Hot Stocks: RNG falls on COO leaving; LCID convertible notes; KGC merger; RENN motion denied
RingCentral (NYSE:RNG) and Lucid Group (NASDAQ:LCID) showed weakness in Thursday's midday trading, with both stocks posting double-digit percentage declines. RNG dropped on a major executive departure, while a convertible note offering put pressure on LCID. Kinross Gold (NYSE:KGC) also suffered notable selling, dragged down on a $1.4B merger deal with Great Bear Resources (OTCQX:GTBAF). Renren (NYSE:RENN) represented another major intraday decliner. An unfavorable court ruling sent the stock lower by more than 40%. On the other side of the spectrum, EVgo (NASDAQ:EVGO) drew buying interest in intraday action. The stock rallied on a bullish analyst comment. Decliners RingCentral (RNG) dropped 15% in midday trading on news that its COO is leaving the company. The company announced that Anand Eswaran will step down from the roles of president and COO, although he will remain available as an adviser until the end of the year. Lucid Group (LCID) also lost ground in
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Hot Stocks: RNG falls on COO leaving; LCID convertible notes; KGC merger; RENN motion denied