Cepton Inc (CPTN)

Shares of Cepton Inc (CPTN) dropped by 26.45% from $3.97 to $2.92 in the trading on Thursday, December 14, 2023. The reason why CPTN down today is due to a downgrade by Craig-Hallum. This downgrade followed what was described as a "devastating blow" caused by cancellations from General Motors (GM). The loss of business with GM had a detrimental impact on Cepton's outlook, leading to a downgrade by analysts at Craig-Hallum. Investors reacted strongly to this news, resulting in the substantial drop in CPTN's share price on December 14, 2023.