01:57 PM EDT, 03/21/2025 (MT Newswires) -- Damon (DMN) stock sank 70% amid heavy trading after the micro-cap company overnight priced a public offering of 126.9 million units at $0.13 apiece.

More than 253.9 million shares traded intraday compared with a daily average of about 4.4 million.

TELA Bio ( TELA ) reported lower Q4 earnings late Thursday, and Q1 and full-year 2025 sales guidance that missed analyst estimates compiled by FactSet.

Shares slumped 39% following an increase in intraday trading volume to over 2.1 million from a daily average of about 145,000.

FedEx ( FDX ) overnight lowered its fiscal 2025 outlook for adjusted earnings and softened its revenue forecast. Loop downgraded the parcel delivery company to sell from hold and cut its price target to $221 from $283. JPMorgan was among other analysts cutting their price targets, with JP Morgan setting its at $280 from $323.

Shares of FedEx ( FDX ) slid 6.9% as intraday trading volume rose to over 5.8 million from the stock's daily average of about 1.7 million.

Price: 0.04, Change: -0.09, Percent Change: -70.36