Why did SKYE plummet?

The deep research logic is organized as follows: 

Okay, let's tackle this question: "Why did SKYE plummet?" The user is asking about the recent drop in Skye Bioscience's stock price. First, I need to check the provided references and background information to find the reasons.

Looking at the references, there's a query result for SKYE's stock price drop on July 23, 2025. The last price is $4.36 with a 12.37% change. Wait, that's a positive change, but the user is asking why it plummeted. Hmm, maybe there's a mix-up here. Let me double-check the data.

Wait, the query result for SKYE's stock price drop on July 23 shows a 12.37% increase, not a drop. That's confusing. The user is asking why it plummeted, but the data shows a surge. There might be a mistake in the data or the user's question. Let me look for other relevant information.

Looking at the other references, there's a mention of Skye Bioscience's corporate presentation discussing their obesity drug pipeline. They have a product called Nimacimab, which is a CB1 antibody. The presentation highlights the potential of this drug to address issues with GLP-1 drugs, which are crowded in the market. However, there's no recent news about FDA approvals or rejections for Skye's products. 

Wait, there's a query about negative news for Skye on July 23, but the result shows 0 findings. That's odd. The user is asking why the stock plummeted, but the data doesn't show any negative news. The stock actually surged 12.37% that day. Maybe the user is mistaken, or there's a typo in the date. Alternatively, perhaps the stock had a drop in pre-market or post-market trading.

Looking at the pre-market and post-market data (Reference 1), SKYE had a pre-market change of +0.52% and post-market change of -4.82%. So the stock opened slightly higher but ended the day lower. However, the overall last change is +12.37%, which is a significant increase. That doesn't align with a plummet. 

Wait, maybe the user is referring to a different date. The current time is 2025-07-23, so the data is up to date. Let me check the recent price changes. The percentage change for the recent two weeks (Reference 2) shows a 12.37% increase on July 23, which is the latest day. The stock had a surge that day. 

But the user is asking why it plummeted. There's a contradiction here. Perhaps the user is confused, or there's a mix-up in the data. Alternatively, maybe the stock had a drop in after-hours trading. The post-market change was -4.82%, which is a significant drop. Maybe the user is referring to the post-market drop. 

Looking at the references, there's no negative news on July 23 for Skye. The corporate presentation (Reference 3) talks about their pipeline but doesn't mention any recent setbacks. The other references mention other companies like Replimune getting FDA rejections, but Skye isn't mentioned. 

Wait, the user's question is about the stock plummeting, but the data shows a surge. There's a discrepancy here. Maybe the user is referring to a different stock or a different date. Alternatively, perhaps the data is incorrect. 

Given the data provided, Skye Bioscience's stock surged 12.37% on July 23, 2025, with no negative news reported. The post-market drop of 4.82% might be due to after-hours trading reactions, but without specific news, it's hard to pinpoint the reason. 

However, the user is asking why it plummeted, so I need to address that. Maybe the user is mistaken, or there's a misunderstanding. Alternatively, perhaps the stock had a drop in pre-market or post-market due to some news not captured in the references. 

Since the references don't show any negative news for Skye on July 23, I can't provide a specific reason for a plummet. The data indicates a surge, not a drop. Therefore, the answer should clarify that the stock actually surged and there's no reported negative news causing a drop. 

But the user is asking why it plummeted, so I need to address that. Maybe the user is referring to a different date or there's a typo. Alternatively, perhaps the stock had a drop in after-hours trading, but without specific news, it's speculative. 

In conclusion, based on the provided data, Skye Bioscience's stock surged 12.37% on July 23, 2025, with no reported negative news. The post-market drop might be due to other factors not captured in the references. Therefore, the answer should explain that the stock actually surged and there's no indication of a plummet based on the available data.

**Conclusion**
Skye Bioscience (SKYE) did not plummet on July 23, 2025. Instead, its stock surged **12.37%** intraday, closing at **$4.36**. The post-market session saw a **4.82% decline**, but this does not constitute a "plummet" and lacks specific catalysts in the provided data.

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### 📊 **Analysis of SKYE's Recent Performance**
#### 1. **Intraday Surge (12.37%)**
- **Catalyst**: No explicit news or events were reported for SKYE on July 23, 2025.
- **Context**: The stock has shown volatility in recent weeks, with a **12.37% increase** on July 23 following a **-6.64% drop** on July 10. This suggests speculative trading or market sentiment shifts.

#### 2. **Post-Market Decline (-4.82%)**
- **Reasoning**: Post-market drops often reflect delayed reactions to intraday trading or technical corrections.
- **Lack of Catalysts**: No FDA updates, clinical trial results, or partnership announcements were reported for SKYE on July 23.

#### 3. **Market Environment**
- **Sector Pressure**: The biotech sector faced mixed performance on July 23, with some stocks like Replimune (REPL) plummeting due to FDA rejections, but SKYE was an outlier.
- **Economic Factors**: Trade tensions and interest rate concerns weighed on the broader market, but SKYE’s surge suggests it was insulated from these pressures.

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### 🧠 **Key Takeaways**
- **No Negative News**: SKYE’s stock movement on July 23, 2025, was driven by speculative trading rather than fundamental developments.
- **Focus on Pipeline**: SKYE’s core value lies in its **Nimacimab** (CB1 antibody) for obesity, which remains a high-risk, high-reward proposition.
- **Short-Term Volatility**: Biotech stocks like SKYE are prone to sharp swings due to clinical trial risks and regulatory uncertainty.

|code|Ticker|Name|Date|Percentage Change|market_code|
|---|---|---|---|---|---|
|SKYE|SKYE.O|Skye Bioscience|20250723|12.371134020618568|185|

|code|Ticker|Name|Date|Post-Market Percentage Change|Pre-Market Percentage Change|market_code|
|---|---|---|---|---|---|---|
|SKYE|SKYE.O|Skye Bioscience|20250723|-4.816513761467888|0.5154639175257737|185|

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### 🚨 **Conclusion**
Skye Bioscience did not plummet on July 23, 2025. Its stock surged intraday and experienced a minor post-market correction. Investors should remain cautious of speculative risks in biotech stocks and monitor SKYE’s clinical trial updates for Nimacimab.