Today's Big Losers: LULU, FIG, AMD, NVDA, KUTV
Monday, August 30, 2021 3:34 PM

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Lululemon Athletica Inc. (NASDAQ: LULU) slumped more than 8% after Jefferies & Co. downgraded its rating on the company to Underperform from Hold.

Fortress Investment Group LLC (NYSE: FIG) slid more than 7% after the company disclosed in a regulatory filing that its Chief Executive Daniel Mudd sold more than 150,000 Fortress shares last week.

Advanced Micro Devices, Inc. (NYSE: AMD) declined more than 4% after Wells Fargo lowered its valuation range to $5.50 to $7.50 from $7 to $9. In a research note to clients, the firm said "We believe that AMD's product lineup is currently weaker than Intel's and expect AMD will struggle with lack of profitability and falling market share. We believe that AMD's current stock price accurately reflects investors' concerns over the company's competitive and financial situation.

Nvidia Corporation (NASDAQ: NVDA) plunged more than 3% on Monday after Standard & Poor’s downgraded its rating on the company to Strong Sell from Hold, citing weakening consumer PC demand. 

Ku6 Media Co., Ltd. (NASDAQ: KUTV) tumbled more than 17% after the company reported wider second quarter net loss of $11.8 million, compared to $10.9 million in the year-ago quarter.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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