Winners: Troika Media Group Inc., Asana, Inc.
Asana, Inc. CEO, Dustin Moskovitz said that he is planning to enter into a 10b5-1 trading plan on March 9, 2023 to purchase 30M shares of the company.
''I'm doing this because I personally believe Asana shares are undervalued, given the scale of the opportunity I see in front of us." He said.
Stocks surged over 18% in morning trading.
Troika Media Group Inc. recently reported that it has 12.89 million shares sold short, which is 49.44% of all regular shares that are available for trading.
Stocks rebounded over 16% in morning trading.
Losers: Silvergate Capital & SVB Financial Group
Silvergate Capital plans to wind down operations and liquidate its bank after the crypto industry’s meltdown sapped the company’s financial strength.
It collapsed amid scrutiny from regulators and a criminal investigation by the Justice Department’s fraud unit into dealings with fallen crypto giants FTX and Alameda Research. Though no wrongdoing was asserted, Silvergate’s woes deepened as the bank sold off assets at a loss and shut its flagship payments network, which it called “the heart” of its group of services for crypto clients.
Stocks tumbled over 38% in morning trading.
SVB Financial Group said on Wednesday it intends to offer $1.25 billion of its common stock and $500 million of depositary shares in separate offerings.
It also sold about $21 billion of securities, which will result in an after-tax loss of $1.8 billion in the first quarter of 2023.
Stocks crashed over 36% in morning trading.
