HWH International (HWH) shares slumped 31% after the company said Friday it priced a public offering of about 3.2 million common shares at $0.40 per share and about 1.3 million pre-funded warrants to purchase common shares at $0.3999 per warrant.
More than 5.8 million shares traded intraday versus a daily average of about 843,000.
Shares of alcohol beverage makers, including Molson Coors Beverage (TAP), fell after US Surgeon General Vivek Murthy released an advisory outlining the direct link between alcohol consumption and an increased risk of cancer and called for cancer warnings on alcoholic drinks.
Molson shares were down 4% intraday, with trading volume at more than 1.7 million compared with a daily average of 1.68 million.
UBS adjusted its price target on Adobe (ADBE) to $475 from $525, while keeping its neutral rating.
Shares retreated 2.1% as intraday trading volume climbed to more than 3.5 million from a daily average of roughly 3.46 million.
Price: 0.45, Change: -0.20, Percent Change: -30.51
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