Forgent Jumps, Waystar Rises, Coinbase Drops Ahead of Clarity Act Vote

On this episode of Stock Movers:

- Forgent (FPS) shares jump. The power equipment company reported fourth-quarter revenue and adjusted Ebitda above a guidance range given in May. The company’s backlog grew 256% year-over-year.

- Waystar (WAY) shares rise. Reuters reported that the firm is exploring options, including a sale, two years after a public listing in New York. The company hired Evercore to advise on the process, which is ⁠currently at an early stage, Reuters reported citing people familiar with the matter.

- Coinbase (COIN) shares drop. Hopes of the Clarity Act passing this year faded. The Senate is set to vote on the crypto regulation bill on Tuesday afternoon.

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