Stocks In The News: CFVI, NRBO, IRNT
2:40 pm Thursday, September 15th, 2022
Shares of CF Acquisition (NASDAQ:CFVI) are getting buried on Thursday, with shares down more than 16%. The move adds to the latest list of volatility for CFVI stock. Shares fell 19% from last week’s high to last week’s low, then rallied 24% over a two-day span on Tuesday and Wednesday of this week. The decline is likely surprising to some investors, particularly after the recent shareholder vote. Shareholders in CFVI stock voted in favor of the SPAC merger with Rumble. As a result, the company will begin trading under the ticker symbol RUM next week.
NeuroBo (NASDAQ:NRBO) stock is rising higher on Thursday after the clinical-stage biotechnology company announced a new strategic partnership with Dong-A ST. NeuroBo has entered into a conditional exclusive license agreement that has it agreeing to develop and commercialize DA-1241 and DA-1726. These are treatments in development for nonalcoholic steatohepatitis (NASH), obesity, as well as type 2 diabetes. That agreement has NeuroBo taking responsibility for the global development, regulatory, and commercial activities of the treatments. However, it does exclude certain Asian-Pacific areas. This will also see Dong-A ST handle the manufacturing of the medicines.
IronNet (NYSE:IRNT) stock is plunging today on multiple negative catalysts. For one, the cybersecurity firm just reported disappointing second-quarter earnings. But two top executives are also stepping down from the company. Poor earnings aren’t the only thing driving this change in leadership, either.
Rather, Chairman and co-CEO Keith Alexander — a former four-star general — has been accused misinforming investors in an attempt to artificially inflate IRNT stock. Now investors have filed a class action complaint against Alexander as well as other top executives, including co-CEO William Welch and CFO James Gerber.
