Stock Market Down: Fed Rate Campaign Moves Yields Higher
• Bond yields moved higher today as the Federal Reserve’s interest rate campaign takes center stage.
• Five stock market losers include NAPCO Security Technologies Inc., Jet.AI Inc., Aditxt Inc., and SMX (Security Matters) PLC.
• Each of these companies experienced a sell-off in their respective stocks due to errors or decisions made recently.
Bond Yields Move Higher
WISCONSIN (CoinChapter.com) — Bond yields moved a little higher today. The benchmark 10-year Treasury bond yield, circling around 4.3%, was almost at its highest point in over a decade. The move came amid expectations that the Federal Reserve’s interest rate campaign will once again take center stage during a trading week that is otherwise quiet.
Five Stock Market Losers
Here are the five stock market losers:
NAPCO Security Technologies Inc.
Wolf Popper LLP (law firm) has announced an investigation into potential securities fraud claims on behalf of the purchasers of the common stock of NAPCO Security Technologies, Inc. (NASDAQ: NSSC). This initiative comes after NAPCO, a manufacturer and designer of high-tech electronic security devices and provider of school safety solutions, revealed that it must restate its financial statements for the fiscal quarters ended Sep 30, 2022, Dec 31, 2022, and March 31, 2023 due to errors found in its calculations. The firm’s investigation seeks to establish the validity of these potential securities fraud claims.
Jet.AI Inc.
Jet.AI Inc.(NASDAQ: JTAI), a firm involved in private aviation and artificial intelligence (AI), had no news today but three days ago announced its AI-powered charter booking platform CharterGPT which decreased 21.61% resulting in shares being sold off .CharterGPT is an application that communicates with both consumers and charter operators, reducing the time a broker spends with the help of natural language processing..
Aditxt Inc.
Four days ago, Aditxt, Inc.(NASDAQ: ADTX), a global leader in the development of therapeutics and technologies for immune system monitoring and modulation ,announced its decision to implement a 1-for-40 reverse stock split which became effective at 9:30a Eastern Time today .Post-split trading commenced on NASDAQ Capital Market under unchanged symbol ADTX .Shares were sold in response to this decision..
SMX (Security Matters) PLC
SMX(Security Matters)PLC(NASDAQ:SMX) is leading transition from linear to circular production processes through its innovative technology .The company did not have specific news but experienced sell off .