Nike, Trump Media End Day Higher; Corcept Plunges

On this episode of Stock Movers:

- Nike (NKE) shares end the day higher after CEO Elliott Hill reported the purchase of about $1 million in shares. Last week, Apple CEO and Nike board member Tim Cook announced he was buying shares of the sportswear company.

- Trump Media and Technology Group (DJT) ends the day up more than 5% after the company said it plans to issue a new cryptocurrency, which will be distributed among its shareholders. Each of Trump Media’s shareholders will receive one token per share, the company said. Trump himself is the company’s largest shareholder with a 41% stake in the business, according to data compiled by Bloomberg.

- Corcept (CORT) shares plunged after US regulators rejected the company’s drug to treat a form of high blood pressure. The Food and Drug Administration “could not arrive at a favorable benefit-risk assessment” for the company’s drug, relacorilant, without more evidence of its effectiveness, the Redwood City, California-based company said in a statement Wednesday.

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