Small Cap Losers: SGOC, GATO, VIVO
3:31 pm Tuesday, July 13th, 2021
SGOCO Group, Ltd. (NASDAQ: SGOC) stock is now down 51% to $9.74. Unsurprisingly, SGOCO Group didn’t report any news this morning. Instead, the stock’s fall is reflective of its status as a meme stock. That means it’s subject to extreme volatility. While shares raced nearly 200% higher yesterday, day traders are choosing to gather profits today and look for their next get-rich-quick opportunities.
The other catalyst motivating investors to act this morning is Jim Cramer’s reference to the stock yesterday. While he didn’t refer to it by name, in a video segment he referred to a Chinese company (SGOCO Group is headquartered in Hong Kong) that “does flat panel screens.”
Gatos Silver Inc (NYSE: GATO) slumped 21% to $15.32 after the company Commenced the roadshow for a proposed public offering of 6.5 million common shares by co and of 1.82 million common shares by selling stockholders. Also announced that it reached a definitive agreement with Dowa Metals & Mining to retire the outstanding Los Gatos Joint Venture Term Loan.
Meridian Bioscience, Inc. (NASDAQ: VIVO) issued downside Q3 revs guidance. Results in co’s Diagnostics segment were negatively impacted by supply chain issues with co’s LeadCare reagents that resulted in backorders while its Life Science segment was impacted by reduced demand for reagents associated with COVID-19 testing. The stock fell 22.50% to $17.43.
