COIN - These 2 Nasdaq Stocks Are Plunging. Here's Why
2023-06-06 14:48:00 ET
Wall Street has been on the upswing lately, gaining confidence about the ability of the economy to withstand inflationary pressures and tighter monetary policy. Small-cap stocks soared on Tuesday at midday, which helped drive the Nasdaq Composite (NASDAQINDEX: ^IXIC) to gains of nearly half a percent.
Within the Nasdaq, though, there were several stocks that lost ground. NovoCure (NASDAQ: NVCR) suffered a steep drop in its share price following its latest news on a key treatment option for cancer patients. Meanwhile, Coinbase Global (NASDAQ: COIN) notched its second day of losses, as the cryptocurrency exchange specialist found the regulatory spotlight shifted directly onto itself.
Shares of NovoCure dropped 30% early Tuesday afternoon. The move lower came after the healthcare company released its latest clinical data on its Tumor Treating Fields (TTFields) therapy, which prompted some nervous responses from shareholders.
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These 2 Nasdaq Stocks Are Plunging. Here's Why