NYSE Bounce list for Thursday: BWA, OR, ML, COOK, WNC

Stocks go through ups and downs but after a stock goes down to a certain degree, it can sometimes be primed for a bounce back. It is often a good idea for investors to consider keeping an eye on such stocks. This article would provide you with a detailed look into 5 New York Stock Exchange-listed stocks that fell yesterday but may be worth tracking in case of a rebound.

BorgWarner (NYSE:BWA) – It has been quite a week so far for BorgWarner as it completed the spin-off of its fuel systems and aftermarket businesses into a new entity. However, the stock suffered from a selloff on Wednesday and declined by 2%. The spin-off had been conducted entirely in stock and that apparently led to confusion on some websites which track stock prices.

BorgWarner is a major player in the automotive industry and traces its origins to the year 1928. The company is now looking to become a major operator in the future of the automotive industry. It is now entirely focussed on becoming the most important supplier to the electric vehicle space and hence, it decided to sever ties with its legacy businesses. This past Monday the company announced that it hit a major milestone through the spin-out of PHINIA into a separately listed entity.

The newly listed company would include its internal combustion engines business and also the spare parts unit which supports the operations. As per the provisions of the spin-out, shareholders retained their shareholding in BorgWarner and also received shares in PHINIA.

Osisko Gold Royalties (NYSE: OR) – The company was in focus on Wednesday after it announced that Sandeep Singh was going to be replaced as its Chief Executive Officer with immediate effect by mining industry veteran Paul Martin. Martin was appointed on an interim basis.

The development led to a selloff in the Osisko Gold Royalties stock and it ended the day with a decline of 12%. The company noted that it was looking for a replacement for the role. Martin had been the Chief Executive Officer and Chief Financial Officer at mining companies in the past. He is currently the chair of the company Red Pine Exploration. Singh had been the CEO of the company since November 2020 and his entire service spanned a period of three and a half years.

On June 29 Osisko Gold Royalties announced that it had made an amendment to the 75% silver stream with regards to the Gibraltar copper mine situated in British Columbia, Canada. The mine is operated by Taseko Mine Limited, a fully owned subsidiary unit of the company. On March 15, Taseko took its interest in Gibraltar to 87.5% after having completed the acquisition of 12.5% interest from Sojitz Corporation.

MoneyLion Inc (NYSE: ML) – It is a unique company, which is a leader in the fintech sector but involved in providing its customers with advanced personalized products and content. MoneyLion Inc offers its own finance mobile app, which is a premium platform for enterprises.

The company also boasts a high-class media arm. The aim of the company is to change the lives of people by providing them with access to more financial literacy. On Wednesday, the stock suffered and ended up with a decline of 11.50%. It could be one of the stocks worth watching today for any kind of bounce back. 

The company announced yesterday that it was going to use artificial intelligence to revive Benjamin Franklin for the purpose of raising awareness about financial freedom. The campaign is known as Financial Freedom and it was launched yesterday. It would run up until August 14.

LendingClub recently reported that 60% of Americans live from one paycheck to the next and the household debt hit a record $17 trillion in the last quarter. The company believes that as one of the nation’s founding fathers, Franklin would not have liked this state of affairs. Hence, MoneyLion had decided to revive him through artificial intelligence a day after Independence Day to raise awareness.

Traeger Inc (NYSE: COOK) – The company, which is based out of Salt Lake City, is the creator and the category leader in wood pellet grill grills. The grill offers an outdoor cooking system that involves all-natural hardwoods. It can be used for grill, smoke, braise and barbecue.

This year, Traeger Inc made a move into the griddle space, and that further cemented its position as a leader in the outdoor cooking industry. The grills offered by the company are user-friendly and versatile, thereby providing cooks of varying skill sets the opportunity to create their own meals.

Yesterday, the Traeger stock was one of the notable laggards as it ended the day with a decline of 12%. There was no news about the company yesterday but on June 5, Traeger had announced that it had appointed a new president of MEATER in the form of Jim Hardy. The founders of MEATER are expected to move out of their leadership positions by the end of 2023. The executives at Traeger would work on a transition plan for the responsibilities of Hardy as the Chief Operating Officer in the upcoming months.

Wabash National Corporation (NYSE: WNC) – Another company that suffered a notable decline in its stock on Wednesday was Wabash National Corporation. The selloff may have been triggered by a downgrade from Raymond James. The analyst, Felix Boeschen, downgraded the stock to Market Perform from Strong Buy and noted that the company was progressing towards a much more balanced risk-reward future.

However, that was not all. The company also announced yesterday that it was going to webcast the conference call in which it would discuss the financial results for the second fiscal quarter of 2023. The conference call is scheduled for July 26, 2023, and would begin at 11 am Eastern time. All earnings-related information would be made available by Wabash National Corporation on the ‘Investors’ section of its website.