Financial Stocks Plummet While ImmunityBio Soars
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 hours ago
0mins
Source: CNBC
- Financial Sector Decline: The financial sector of the S&P 500 fell over 3% during midday trading, with KKR and Blackstone dropping approximately 9% and 7% respectively, indicating investor concerns over alternative asset management and its potential impact on market confidence.
- Cybersecurity Stocks Volatility: The Global X Cybersecurity ETF (BUG) tumbled 4% amid anxiety over artificial intelligence, with CrowdStrike and Zscaler each falling 10%, reflecting market sensitivity to security risks posed by emerging technologies.
- ImmunityBio's Strong Growth: ImmunityBio reported a staggering 700% year-over-year revenue growth and expanded Anktiva approvals for lung cancer, leading to a 12% stock increase, showcasing its strong market potential in the clinical-stage immunotherapy sector.
- Arcellx Acquisition Surge: Gilead Sciences agreed to acquire Arcellx for $7.8 billion, resulting in a 78% stock surge, with the deal expected to close in the second quarter, marking a significant merger activity in the biotech sector.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
