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

Technology stocks were declining on Thursday, with the SPDR Technology Select Sector ETF (XLK) slipping 0.9% and the Philadelphia Semiconductor Index retreating 2.6% this afternoon.

In company news, Luminar Technologies (LAZR) fell more than 19% 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 3.6% 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) rose 105% 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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