• Stocks declined on Thursday as investors anticipated Federal Reserve Chairman Jerome Powell’s important speech and enthusiasm over blockbuster Nvidia earnings failed to boost the overall market.
• Five stock market losers include Better Home & Finance Holding Co., ReTo Eco-Solutions Inc., AMC Entertainment Holdings Inc., Cheetah Net Su, and Jumia Technologies AG.
• Wedbush elevated its AMC price target from $2 to $19 in light of the resolution of AMC’s court case.
Stocks Down Despite Nvidia Earnings
WISCONSIN (CoinChapter.com) — Stocks declined on Thursday as investors anticipated Federal Reserve Chairman Jerome Powell’s important speech and enthusiasm over blockbuster Nvidia earnings failed to boost the overall market.
Five Stock Market Losers
Here are the five stock market losers: Better Home & Finance Holding Co. (NASDAQ: BETR), ReTo Eco-Solutions Inc. (NASDAQ: RETO), AMC Entertainment Holdings Inc. (NYSE: AMC), Cheetah Net Su, and Jumia Technologies AG.
Better Home & Finance Holding Co.
Amidst mortgage rates soaring to their greatest levels in over two decades, Better Home & Finance Holding Co. (NASDAQ: BETR), a mortgage origination firm, chose to go public through a deal with a special purpose acquisition company (SPAC). This move by Better, going public at a bad time for Mortgage Lenders, surprised many and sent shares down 92.89% in trading. The firm successfully finalized a merger with Aurora Acquisition Corp, a SPAC, on Tuesday and started trading shares and warrants of the merged entity today under the ticker BETR.
ReTo Eco-Solutions Inc.
The ReTo Eco-Solutions Inc.(NASDAQ: RETO) stock price experienced significant movements on Wednesday, 23rd August 2023, falling by -0.299% from $6.70 to $6..68 This was within a larger fluctuation of 13.40% during the trading day, reaching a high of $7.36 from a low of $6..49 Despite this dip, the stock price has seen an overall rise in 6 of the last 10 days and is up by 116..18% over the past two weeks However an increase in volume and falling prices could be an early warning of risk in coming days Approximately $28..97 million worth of ReTo Eco-Solutions stock was traded highlighting big movements in its price
AMC Entertainment Holdings Inc.
Following a prolonged period of legal disputes, AMC Entertainment Holdings Inc.(NYSE: AMC) executed a reverse 1-for-10 split of its common stock and an AMC Preferred Equity unit stock conversion The company contends that this will facilitate raising additional equity capital Amidst this development Wedbush elevated its AMC price target from 2 to 19 Alicia Reese ,a Wedbush analyst noted “The resolution of AMC’s court case eliminates considerable encumbrance ,and we anticipate the AMV shares to stabilize around our new 19 price target subsequent to conversion and reverse split ” Despite this reverse split decreased stock price 2781 %