Technology Sector Update for 09/22/2022: AI,LAZR,INPX,LPTV

Technology stocks pared most of their Thursday retreat, with the SPDR Technology Select Sector ETF (XLK) slipping 0.2% this afternoon although the Philadelphia Semiconductor Index was still off 1.9%.

In company news, C3 AI (AI) was slipping about 1% late in Thursday trading after it said New York State Governor Kathy Hochul issued an executive order making it mandatory for state agencies to use the NY Power Authority's energy manager application developed by C3 AI.

Luminar Technologies (LAZR) fell nearly 16% after a Northland Capital downgrade of the laser imaging and sensors company to market perform from outperform coupled with a $3 reduction in its price target for Luminar shares to $10.

Inpixon (INPX) declined 3.9% after the company announced plans to trim about 20% of its current jobs in addition to other cost-savings initiatives, citing "global economic uncertainties."

Loop Media (LPTV) surged 91% after pricing a $12 million public offering of 2.4 million common shares at $5 each. The company also began trading Thursday on the NYSE American stock exchange, shifting from the OTC Pink Open Market previously.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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