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Why is Cepton Inc (CPTN) Stock down?
We've noticed a 6.37% decline in Cepton Inc (CPTN) stock during the 2024-07-08 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
14 Dec, 2023:
Shares of Cepton Inc (CPTN) dropped by 26.45% from $3.97 to $2.92 in the trading on Thursday, December 14, 2023. The reason why CPTN down today is due to a downgrade by Craig-Hallum. This downgrade followed what was described as a "devastating blow" caused by cancellations from General Motors (GM). The loss of business with GM had a detrimental impact on Cepton's outlook, leading to a downgrade by analysts at Craig-Hallum. Investors reacted strongly to this news, resulting in the substantial drop in CPTN's share price on December 14, 2023.
1.55%
0.17%
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