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April 21, 2023
The main stocks that are plunging: CommScope Holding Company, Inc., Arrival, Bright Mountain Media, Inc.
Leading equity indices in the US declined as after dropping 0.8%, Nasdaq closed at 12,060. S&P 500 closed at 4,129.79, a 0.6% change.
Meanwhile, United States Existing Home Sales (Mar) came out at 4.44 million, while a consensus of analysts was expecting 4.5 million.
What is a downtrend?
The perceived tendency of a price to move in a downward direction over time. A downtrend describes the price movement of a continously depreciative financial asset over a particular time frame. In a downtrend, each successive low and peak is lower than the ones found earlier in the trend. The downtrend is therefore composed of lower swing lows and lower swing highs.
| CommScope Holding Company, Inc. | continues a 14 day decline; drops 4% yesterday
More of the same from yesterday's session: an influx of sellers pushed the US network infrastructure provider to end the session lower around $4.54, while establishing a $4.5 to $4.67 session range yesterday. After setting a $4.5 – $4.67 range, CommScope Holding Company, Inc. closed the day 4% lower at $4.54. Daily trading volume (4.20 million shares) increased, making up 153% of the 21-day average (2.74 million).
CommScope Holding Company, Inc.'s market cap is currently $952.25 million with an average daily trading volume of 2.74 million shares. A day ago, the US network infrastructure provider fell to a low of $4.54 but has since recovered 4.19%. CommScope Holding Company, Inc. last reported revenue of $2.32 billion with an EPS of 43 cents.
| Arrival | 28.57% (68 cents) depreciation over 4 days (17 cents per day average)
After setting a $three – $3.5 range, Arrival closed the day 14.77% lower at $three. An influx of sellers pushed the EV maker to end the session lower around $three, while establishing a $three to $3.5 session range yesterday. Trading volume totalled 711,398 which equates to around 5% of the stock's 21-day average yesterday.
| Bright Mountain Media | 27.14% (1.98 cents) depreciation over 5 days (0.396 cents per day average)
Yesterday's session continued the recent downtrend: during yesterday's session, Bright Mountain Media toiled and struggled for upward momentum before closing at 8 cents. By the close, the the digital advertising specialist suffered a 1 cents or 11.11% loss. After setting a 8 cents – 8.7475 cents range, Bright Mountain Media closed the day 11.11% lower at 8 cents. Daily trading volume (9,650 shares) was slightly above the current multiday average of 9,167.
The company is currently trading with a market cap of $11.97 million with an average daily volume of 9,167 shares. The digital advertising specialist traded as high as 65 cents before shedding 80.43% lower over the past six months. Trending downwards for around a month.
