Markets

Market movers: Longfin Corp, MV Oil Trust, MannKind Corporation, Incyte Corporation

A look at the day's fast-moving stocks, including controversial fintech Longfin
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Trading in Longfin has been suspended

A look at the day's major movers

RISERS

Longfin Corp (NASDAQ:LFIN), up 47% at US$28.19

Trading in the heavily-shorted stock was suspended by Nasdaq pending satisfaction of the exchange's request for additional information relating to trading in the company's shares on and around the time the value of the shares shot up on the acquisition of Ziddu.com, owner of a blockchain-powered technology that is used in smart contracts for financing activities.

MV Oil Trust (NYSE:MO), up 9.5% at US$9.27.

The trust said unit holders would receive a quarterly distribution of 36.5 cents per unit.

FALLERS

Mannkind Corporation (NASDAQ:MNKD), down 25% at US$1.79

The developer of inhaled therapeutic products saw its stock dive after it announced plans to raise US$28mln through the issue of shares and warrants at US$2 a pop.

READ MannKind's direct stock offering gets thumbs down from investors​

Incyte Corporation (NASDAQ:INCY), down 17% at US$68.64.

The stock plummeted after the failure of a pivotal Phase 3 ECHO-301/KEYNOTE-252 study evaluating Incyte’s epacadostat in combination with Merck’s KEYTRUDA in patients with unresectable or metastatic melanoma.

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