U.S. stock futures were lower this morning, with the Dow futures falling around 0.1% on Monday.Shares of Revolution Medicines Inc (NASDAQ:RVMD) dipped 26.1% to $87.02 in pre-market trading.The Wall Street Journal Reported that Merck (NYSE:MRK) is no longer in talks to acquire Revolution Medicines.Revolution Medicines shares dipped 26.1% to $87.02 in pre-market trading.Here are some other stocks moving lower in pre-market trading.Erasca Inc (NASDAQ:ERAS) fell 11.5% to $8.82 in pre-market trading. Erasca anno ...

Group 1 - U.S. stock futures were mostly flat, with Nasdaq 100 futures slipping around 0.01% [1] - Sidus Space, Inc. announced a public offering of 19,230,800 shares at $1.30 per share, leading to a 39.2% decline in its shares to $1.39 in pre-market trading [1] Group 2 - Starfighters Space Inc shares dipped 23.2% to $24.19 after a significant gain of over 370% on Monday [2] - ECD Automotive Design, Inc. fell 15.4% to $0.1650 following a 1-for-5 reverse stock split announcement [2] - CapsoVision Inc dipped 5.6% to $12.35, while Rocket Lab Corp fell 5.3% to $73.46 after a previous 10% jump [2] - Intuitive Machines Inc declined 5.2% to $15.82 despite a price target increase from $14 to $20 by B. Riley Securities [2] - Firefly Aerospace Inc shares declined 4.4% to $27.33 after a 16% increase due to joining the Russell 2000 and Russell 3000 indexes [2] - AST SpaceMobile Inc shares declined 3.1% to $83.82 after a 14% surge related to new satellite details [2]

Core Insights - Argo Blockchain has finalized a restructuring plan that eliminates $40 million in senior debt, strengthening its balance sheet and leaving it debt-free, aside from a small mortgage [1] - The company has increased its hashrate capacity from approximately 1.8 EH/s to 2.4 EH/s and expanded its self-mining capacity to 28.5 MW through infrastructure acquisition [2] - Following financial strain since its Nasdaq listing in September 2021, Argo sold its Helios facility for $65 million to avoid bankruptcy and faced a Nasdaq delisting notice in July due to share price issues [3] - With stabilization efforts concluded, Argo is now exploring opportunities in artificial intelligence (AI) and high-performance computing (HPC) [4] Group 1 - The restructuring plan was formally approved by the High Court of Justice in England and Wales on December 11 [1] - The equitization of $40 million in outstanding senior notes due 2026 is a key component of the restructuring [1] - The remaining mortgage on the Baie-Comeau facility in Quebec is $472,000 [1] Group 2 - The acquisition of 13.5 MW of infrastructure in Alabama contributed to the increase in self-mining capacity [2] - Management has secured additional electrical assets to support future deployment of up to 65 MW [2] - The deployment of 1,400 Z11 miners was aimed at capitalizing on the recent price rally of Zcash [2] Group 3 - The financial strain began shortly after Argo's Nasdaq listing in September 2021 [3] - The sale of the Helios facility was a strategic move to avoid bankruptcy during the 2022 market downturn [3] - The company received a Nasdaq delisting notice in July due to its share price falling below the minimum bid requirement [3] Group 4 - The conclusion of stabilization efforts allows Argo to pivot towards new opportunities in AI and HPC [4]

Market Overview - U.S. stock futures are lower, with Dow futures down approximately 0.2% [1] Company-Specific Movements - Lightwave Logic Inc (NASDAQ:LWLG) shares fell 14.5% to $3.22 in pre-market trading following the announcement of a $35 million public offering of common stock [1] - Ascent Solar Technologies, Inc. (NASDAQ:ASTI) shares decreased by 15.1% to $3.54 after a previous increase of 34% on Monday [2] - Fractyl Health Inc (NASDAQ:GUTS) shares dropped 10.4% to $2.00 in pre-market trading [2] - Ready Capital Corp (NYSE:RC) shares fell 9% to $2.12, despite declaring a quarterly cash dividend of $0.01 per share for the quarter ended December 31, 2025 [2] - Cellectis SA (NASDAQ:CLLS) shares declined 8.4% to $4.39 following arbitration results with Servier [2] - Destiny Tech100 Inc (NYSE:DXYZ) shares decreased by 7.4% to $31.59 [2] - Kyverna Therapeutics Inc (NASDAQ:KYTX) shares fell 7.2% to $10.04 after announcing a $100 million offering [2] - Maase Inc (NASDAQ:MAAS) shares dropped 6.3% to $4.16 [2] - Argo Blockchain PLC – ADR (NASDAQ:ARBK) shares fell 6% to $5.32 after an 18% decline on Monday [2] - Canopy Growth Corp (NASDAQ:CGC) shares decreased by 5.4% to $1.57 [2] - Neogen Corp (NASDAQ:NEOG) shares fell 4.5% to $6.54 [2]

Market Overview - U.S. stock futures are lower, with Dow futures down approximately 0.2% [1] Company-Specific Movements - Lightwave Logic Inc (NASDAQ:LWLG) shares fell 14.5% to $3.22 in pre-market trading following the announcement of a $35 million public offering of common stock [1] - Ascent Solar Technologies, Inc. (NASDAQ:ASTI) shares decreased 15.1% to $3.54 after a previous jump of 34% on Monday [2] - Fractyl Health Inc (NASDAQ:GUTS) shares fell 10.4% to $2.00 in pre-market trading [2] - Ready Capital Corp (NYSE:RC) shares dipped 9% to $2.12, despite declaring a quarterly cash dividend of $0.01 per share for the quarter ended December 31, 2025 [2] - Cellectis SA (NASDAQ:CLLS) shares declined 8.4% to $4.39 following arbitration results with Servier [2] - Destiny Tech100 Inc (NYSE:DXYZ) shares decreased 7.4% to $31.59 [2] - Kyverna Therapeutics Inc (NASDAQ:KYTX) shares fell 7.2% to $10.04 after announcing a $100 million offering [2] - Maase Inc (NASDAQ:MAAS) shares dropped 6.3% to $4.16 [2] - Argo Blockchain PLC – ADR (NASDAQ:ARBK) shares fell 6% to $5.32 after an 18% decline on Monday [2] - Canopy Growth Corp (NASDAQ:CGC) shares decreased 5.4% to $1.57 [2] - Neogen Corp (NASDAQ:NEOG) shares fell 4.5% to $6.54 [2]

Market Overview - U.S. stocks experienced a decline, with the Nasdaq Composite falling approximately 0.4% on Monday. The Dow decreased by 0.27% to 48,328.47, while the S&P 500 dropped 0.11% to 6,819.62 [1] - In the commodities market, oil prices fell by 1.5% to $56.58, while gold decreased by 0.1% to $4,366.60. Conversely, silver rose by 2.2% to $63.395, and copper increased by 1.1% to $5.4175 [5] Sector Performance - Health care shares saw an increase of 0.9% on Monday, indicating a positive trend in that sector [1] - Energy stocks, however, experienced a decline of 1.5% [1] International Markets - European shares showed positive performance, with the eurozone's STOXX 600 gaining 0.74%. Spain's IBEX 35 Index rose by 1.11%, and London's FTSE 100 jumped by 1.06% [6] - In contrast, Asian markets closed lower, with Japan's Nikkei falling by 1.31% and Hong Kong's Hang Seng dipping by 1.34% [7] Economic Indicators - The NAHB/Wells Fargo Housing Market Index increased to 39 in December, marking the highest reading in eight months, up from 38 in November and exceeding market estimates of 38 [2][10] - The NY Empire State Manufacturing Index fell to -3.9 in December, a significant drop from the previous month's one-year high of 18.7, and below market expectations of 10 [8] Company News - 3 E Network Technology Group Ltd (NASDAQ:MASK) shares surged by 47% to $0.44 following a master services agreement for an AI data center in Finland [9] - Kyverna Therapeutics Inc (NASDAQ:KYTX) shares rose by 28% to $11.22 after announcing topline data from KYSA-8 [9] - Artiva Biotherapeutics Inc (NASDAQ:ARTV) shares increased by 50% to $4.94 after reporting positive initial safety data [9] - iRobot Corp (NASDAQ:IRBT) shares plummeted by 72% to $1.20 after filing for Chapter 11 bankruptcy [9] - Argo Blockchain PLC – ADR (NASDAQ:ARBK) shares fell by 22% to $5.35 amid volatility in the cryptocurrency market [9] - Momentus Inc (NASDAQ:MNTS) shares dropped by 43% to $0.48 following a 1-for-17.85 reverse split announcement [9]

Group 1: CCH Holdings Ltd - CCH Holdings Ltd experiences a dramatic 84.19% price drop to $2.39, contrasting its year-high of $15.39 [1] - The decline occurs amidst a trading volume of 4,658,019, much higher than average [1] - The downturn follows the full exercise of an over-allotment option in its IPO, increasing shares sold to 1,437,500 and gross proceeds to $5.75 million [1] Group 2: Argo Blockchain plc - Argo Blockchain plc experiences a 77.02% price drop to $7.04, with a trading volume of 1,363,955 [2] - The decline follows the announcement of plans to convert ordinary shares into American Depositary Shares (ADS) and delist from the London Stock Exchange [2] - This restructuring plan may have led investors to reassess the company's market position [2] Group 3: Harrison Global Holdings Inc. - Harrison Global Holdings Inc. faces a 57.39% decrease in stock price to $0.15, with a trading volume of 4,804,962 [3] - The decline occurs after a Zoom webinar discussing growth strategies, a gold mine partnership, and a share repurchase authorization [3] - These updates may have influenced investor sentiment, leading to the significant price movement [3] Group 4: Jiuzi Holdings, Inc. - Jiuzi Holdings, Inc. sees a 50.62% drop in stock price to $2.78, with a trading volume of 10,311,601 [4] - The decrease follows a $4 million registered direct offering, involving the sale of 1.6 million Class A ordinary shares at $2.5 per share [4] - This offering may have prompted a critical market reassessment of the company's business model and growth prospects [4] Group 5: Summary of Market Trends - These companies face diverse challenges, from restructuring plans and strategic updates to direct offerings and IPO developments [5] - The significant price movements reflect investor reactions to company-specific developments and broader market trends [5] - This highlights the volatile nature of the stock market [5]

Core Viewpoint - Argo Blockchain plc (NASDAQ:ARBK) is a significant player in the cryptocurrency mining sector, primarily focusing on Bitcoin mining, and has recently reported financial results that reflect both challenges and opportunities in its operations [1][5]. Financial Performance - The company reported an earnings per share (EPS) of -0.1, which met the estimated EPS of -0.1 [1][5]. - Revenue reached approximately $6.28 million, exceeding the forecasted $4.68 million, indicating better-than-expected revenue generation [2][5]. Valuation Metrics - The negative price-to-earnings (P/E) ratio of -0.23 highlights ongoing losses, while the price-to-sales ratio of approximately 0.28 may attract investors looking for undervalued opportunities [2][3]. - The enterprise value to sales ratio is about 0.83, suggesting a higher valuation relative to sales, which could raise concerns among investors [3]. - The enterprise value to operating cash flow ratio is negative at -1.06, indicating challenges in generating operational cash flow [3]. Liquidity and Financial Stability - Despite financial difficulties, the current ratio of 1.24 suggests that the company has adequate short-term liquidity to meet its current liabilities [3][5]. - The debt-to-equity ratio is negative at -1.36, indicating financial instability due to more liabilities than equity [4][5]. - The company is addressing its financial issues through a restructuring plan and engaging with retail advocates to address concerns from retail holders [4].

Group 1 - The meeting is a virtual town hall aimed at discussing the proposed restructuring of Argo [1][4] - David Robinson, a partner at Fladgate LLP, is providing legal advice regarding the restructuring [2] - The meeting includes key participants such as Argo's CEO Justin Nolan and Jon Yorke, the retail advocate for non-institutional shareholders [3]

Summary of Argo Blockchain Town Hall Meeting (November 19, 2025) Company Overview - **Company**: Argo Blockchain (NasdaqGS: ARBK) - **Industry**: Cryptocurrency mining, specifically Bitcoin and other cryptocurrencies - **Current Situation**: Argo is undergoing a restructuring plan due to financial difficulties exacerbated by high energy costs and prolonged low cryptocurrency prices since 2021 [7][8][9] Key Points from the Meeting Restructuring Plan - **Purpose**: The restructuring plan aims to restore Argo's financial stability and allow it to continue trading [4][12] - **Court Approval**: The plan requires court approval, with meetings for plan participants scheduled for December 2, 2025, and a sanction hearing on December 8, 2025 [5][6] - **Participants**: Shareholders, note holders, and secured lender Growler are involved in the restructuring process [5][11] Financial Challenges - **Energy Costs**: Energy costs account for approximately 50% of Argo's total costs, significantly impacting profitability [9] - **Debt Burden**: Argo has been reliant on third-party funding since December 2022, with a total debt of $40 million due in November 2026 [8][11][33] - **Mining Margin Decline**: The mining margin fell from $11.5 million (39% margin) in 2024 to $1.2 million in 2025 due to rising costs and reduced Bitcoin rewards following the April 2024 halving [10] Proposed Changes - **Equity Distribution**: Under the restructuring plan, Growler will own 87.5% of the enlarged share capital, note holders will hold 10%, and existing shareholders will retain 2.5% [13][18] - **ADS Ratio Change**: To maintain NASDAQ listing, the ratio of American Depositary Shares (ADS) will change from 1:10 to 1:1,260 [14][16] - **Delisting from LSE**: Argo intends to delist from the London Stock Exchange, establishing a matched bargain facility for shareholders to trade shares post-delisting [17] Financial Support - **Funding from Growler**: Growler will inject $3.5 million into Argo as part of the restructuring plan, which is critical for meeting obligations to unsecured creditors [12][34] - **Equitization of Debt**: Senior unsecured notes will be converted into equity, allowing note holders to receive shares in the restructured company [18][19] Market Conditions - **Crypto Market Volatility**: The company has faced a "crypto winter" since 2021, leading to significant declines in cryptocurrency prices and market sentiment [9] - **Future Profitability**: While no profit forecasts were provided, the board believes that with reduced debt and new funding, there is potential for recovery [49] Additional Considerations - **Management Structure**: Argo's management will continue to run the business, with a potential non-executive representative from Growler on the board [38] - **Tax Obligations**: Ongoing tax disputes in Canada are still unresolved, with no firm timeline for resolution [38] - **CapEx Plans**: Expected capital expenditures of $25 million in 2026 and 2027 were mentioned, but details on financing were not provided [52] Conclusion - The restructuring plan is seen as a necessary step for Argo to avoid insolvency and provide a pathway for potential recovery, albeit with significant dilution for existing shareholders and note holders [51][52]