September 23 Marvket Decliners: Jaguar Health, Alkami and Other Stocks

• Jaguar Health, Inc. (NASDAQ: JAGX) fell about 74%, reversing much of a sharp gain the previous day. No specific negative company announcement has been confirmed as the cause of the September 23 decline.
• Alkami Technology, Inc. (NASDAQ: ALKT) fell about 19% after announcing that it had ended a review of strategic opportunities and would remain independent.
• Other notable decliners included Cullinan Therapeutics, Inc. (NASDAQ: CGEM), New Fortress Energy Inc. (NASDAQ: NFE), and Greenland Mines Ltd. (NASDAQ: GRML). Their declines should not all be attributed to corporate announcements without clearer evidence.

Jaguar Health closed near $8.91 after an unusually large rally on September 22. The company had announced an FDA user-fee waiver for existing products; that waiver was not a new drug approval. Available reporting does not establish an internal development that caused the following day’s sell-off.

Cullinan fell roughly 22%. Its announcement about participating in a forthcoming investor forum does not, by itself, explain that decline. New Fortress Energy also dropped sharply (-21%); although the company had recently completed a debt restructuring, a direct cause for its September 23 move has not been verified.

Greenland Mines declined about 21% after a strong move the previous day. It had applied for an additional exploration license, but the application should not be described as the proven cause of the drop. Alkami provided a clearer same-day development: its board ended the strategic review, chose to remain independent and reaffirmed its full-year guidance.