From the archive. This pick came before our first emailed issue. We wrote it on Nov 3, 2026 from sources published around that day, with the same checks as every issue. It isn't part of the track record.
The pick
Rapport Therapeutics (RAPP) had the biggest jump in trading volume compared with its usual level. Volume was 6.9x its 30-day average, and the stock fell 18.30%.
What happened
A Rapport press release dated Oct. 27, carried by Yahoo Finance, said the company had started separate underwritten public offerings of $200.0 million of common stock and $150.0 million aggregate principal amount of notes. It also mentioned a concurrent private placement [Yahoo Finance].
A second Rapport press release dated Oct. 28, also carried by Yahoo Finance, announced pricing. It said about $175.0 million of common stock was priced at $21.00 per share. The headline also mentions pre-funded warrants, convertible notes and a concurrent private placement. [Yahoo Finance]
What news reports said
- Yahoo Finance, citing Investing.com, reported that Rapport shares fell 20% in premarket trading on Wednesday after the pricing of $350 million in combined stock and convertible note offerings [Yahoo Finance].
- Benzinga reported in a headline that Rapport shares sank 20% after hours [Benzinga].
- Yahoo Finance reported on Oct. 25 that Rapport had announced positive top-line Phase II results for RAP-219 in acute bipolar mania. It said the trial met its primary and secondary endpoints and supported plans for Phase III development [Yahoo Finance]. That report does not link the results to the Oct. 28 price move.
The numbers
- Previous close: $27.54
- Close: $22.50
- Change: -18.30%
- Volume: 5,937,451
- 30-day average volume: 858,453
- Volume multiple: 6.9x
- Behind the move: news reports