Small Cap U.S. Stocks with Positive and Negative News on May 10, 2023

Several small cap U.S. stocks appeared in the news on May 10, 2023, with some generating positive sentiment and others negative.

Positive Sentiment

  • Ambarx Biopharma (NASDAQ:AMRX) announced positive topline data from its Phase 1/2a study of its lead drug candidate, LY3003019, for the treatment of relapsed or refractory multiple myeloma. The company said that the data showed that LY3003019 was well-tolerated and had encouraging efficacy results.
  • Opera Limited (NASDAQ:OPRA) announced that it had entered into a definitive agreement to acquire the mobile advertising technology company AdColony for $1.2 billion. The acquisition is expected to accelerate Opera’s growth in the mobile advertising market.
  • 89bio, Inc. (NASDAQ:ETNB) announced positive topline data from its Phase 1/2a study of its lead drug candidate, ET514, for the treatment of relapsed or refractory acute myeloid leukemia. The company said that the data showed that ET514 was well-tolerated and had encouraging efficacy results.

Negative Sentiment

  • Dev Information Technology (NASDAQ:DEVI) announced that it had received a subpoena from the Securities and Exchange Commission (SEC) seeking information about its financial reporting practices. The subpoena was issued after the company’s stock price declined sharply following the release of its earnings report for the first quarter of 2023.
  • Sula Vineyards (NASDAQ:SULA) reported a 10% decline in net profit for the quarter ended March 31, 2023. The company attributed the decline to lower sales volume and a decrease in average selling prices.
  • Ayro, Inc. (NASDAQ:AYRO) announced that it had filed for Chapter 11 bankruptcy protection. The company said that the filing was necessary to restructure its debt and give it time to reorganize.

It is important to note that these are just a few of the small cap U.S. stocks that appeared in the news on May 10, 2023. The sentiment of the news articles may change over time, and the impact on the stock price may not be immediate. Investors should always do their own research before making any investment decisions.

Title: Small Cap U.S. Stocks with Positive and Negative News on May 10, 2023