Midday Stock Movers: Stryker and Mullen Automotive Hit by Short Reports

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Midday Stock Movers: Stryker and Mullen Automotive Hit by Short Reports
Credit: © Reuters.

By Sam Boughedda

Investing.com -- U.S. stock indices are down once again Wednesday, with the Nasdaq  decreasing 2.4% and the S&P 500 declining 1.22%. Here are the midday movers on Wednesday, April 6th.

Mullen Automotive Inc (NASDAQ: MULN ) is down 4.6% after Hindenburg Research released a short report on the company, claiming it is "yet another fast talking EV hustle."

Stryker Corporation (NYSE: SYK ) is trading 2.94% lower midday following a short report from Spruce Point Capital highlighting the company's debt and the fact it has just $1.5 billion of unrestricted cash.

Gogo Inc (NASDAQ: GOGO ) is up 11.33% on the news it will replace SPX FLOW Inc (NYSE: FLOW ) in the S&P SmallCap 600 before the open on Friday.

Despite revenue missing analyst expectations, Tilray Inc (NASDAQ: TLRY ) reported a profit, sending its shares higher. The stock is trading 12.4% higher midday.

Spirit Airlines (NYSE: SAVE ) shares have regained some of the initial losses from earlier in the session, but still trade 1.5% lower after Tuesday's surge, which followed news of a bid from JetBlue.

On the other hand, JetBlue Airways (NASDAQ: JBLU ) has fallen more sharply by 5.76%. When confirming its offer for Spirit, JetBlue said its bid is the "most attractive opportunity" for Spirit investors.

 

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