Nov 10th, 2023 – Groupon shares tumbled 39.5%, a day after the company posted their third-quarter results that were not matching with analysts’ expectations. The company’s CEO also admitted that the business continues to be challenged, but he also added that he is pleased that there is an improvement in the financial performance of Groupon.
Plug Power shares lost more than 40% of their value today after third-quarter results missed analysts’ estimates. The hydrogen fuel cell developer issued a going concern notice about its potential inability to fund operations over the next year. The main reasons behind this collapse are significant difficulties for the company to the accessibility of hydrogen. Due to these factors, JPMorgan downgraded Plug Power price target.
Synaptics gained 13.7% after beating analysts’ expectations in its third-quarter report. Synaptics earned 52 cents per share, while analysts forecasted 38 cents per share. The market reacted optimistically also to comments from the company’s CEO, who conveyed that there was strong evidence that trends for the company would soon reverse supporting the growth of its business.
NVIDIA gained around 3% today after the giant chip making company announced that it has found a way to sell high-end chips to Chinese companies while remaining compliant with U.S. restrictions against China. Chinese tech companies have a high demand for AI chips to develop local versions of AI like OpenAI’s ChatGPT. At the moment, because of the U.S. restrictions, Chinese companies have no better option than the U.S. companies’ chips that they are allowed to buy, that are less powered compared to those used by competitors.
Author: Filippo Ferrero