Top Market Losers: Leveraged ETF and Company News Drive Sharp Declines
- The Daily Target 2X Long OKLO ETF (NASDAQ: OKLL) fell as losses in underlying Oklo Inc. (NYSE: OKLO) shares were amplified by leverage.
- CPI Card Group Inc. (NASDAQ: PMTS) declined following a discounted secondary share offering.
- NuScale Power Corporation (NYSE: SMR) fell after an analyst downgrade.
Several U.S.-listed securities recorded sharp declines on Friday. The Daily Target 2X Long OKLO ETF (NASDAQ: OKLL) fell 18.38% to $9.50, reflecting an amplified decline in Oklo Inc. (NYSE: OKLO) shares.
OKLL seeks to deliver twice the daily percentage movement in Oklo stock. Its recent 1-for-5 reverse split did not cause the decline because a reverse split does not immediately change the total value of an investor’s holdings.
CPI Card Group Inc. (NASDAQ: PMTS) dropped 16.48% to $22.50 after major shareholder Parallel49 Equity launched a discounted secondary offering of approximately 2.3 million shares.
NuScale Power Corporation (NYSE: SMR) fell 15.73% to approximately $8.60 after UBS downgraded the stock from Neutral to Sell and lowered its price target from $10 to $6, citing weaker EBITDA expectations.
SELLAS Life Sciences Group, Inc. (NASDAQ: SLS) declined 14.42% to $11.55 amid volatility in the biotechnology stock. A previously announced shareholder investigation should not be treated as a confirmed cause of Friday’s decline or as proof of wrongdoing.
bioAffinity Technologies, Inc. (NASDAQ: BIAF) fell 15.34% to $7.95 despite recently regaining compliance with Nasdaq’s minimum bid-price requirement. No clear new negative announcement fully explained the decline.
