Stocks making the biggest moves midday: Bed Bath & Beyond, Digital World Acquisition, Nikola and more
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Check out the companies making headlines in midday trading.
Bed Bath & Beyond — Shares continued to slide in Friday's session with a 22.8% tumble. On Thursday, the company once again warned that it may need to file for bankruptcy protection if its proposed $300 million stock offering fails. The retailer's stock has lost nearly 40% of its share value this week.
Digital World Acquisition — Shares of the SPAC linked to former President Donald Trump advanced 6.3%. On Thursday, a New York grand jury formally indicted Trump on charges related to «hush money» payments made before his 2016 campaign.
Nikola — Nikola shares sank 11% after the electric-truck maker announced plans for a $100 million secondary stock offering priced 20% below Thursday's close.
Virgin Orbit — The satellite launch services provider dived 32% after announcing it will halt operations «for the foreseeable future» and eliminate about 90% of its workforce.
BlackBerry — BlackBerry popped 16% after the company posted a smaller per-share earnings and adjusted EBITDA loss than analysts polled by StreetAccount expected for the fourth quarter. The company's revenue, however, missed analyst expectations.
Regional banks — Shares of closely followed regional bank stocks advanced, with the SPDR S&P Regional Banking ETF (KRE) up 0.8%. Metropolitan Bank led the index with a 21.5% jump. PacWest and Popular were the next best performers with gains of more than 3% each. Zions, on the other hand, was the worst performer of the group with a 1.6% loss.
Ventas — The real-estate investing stock slid 2.5% after announcing it would take ownership of collateral supporting a nearly half-billion dollar loan.
Generac Holdings — The battery backup company dropped
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