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May 06, 2023
Markets closed higher yet Lyft, Inc., Monolithic Power Systems Inc, EPAM Systems, Inc. top this unflattering list of yesterday's losers
Following yesterday's session, leading equity indices in the US rose as Dow Jones ended the session at 33,674 after a 1.65% gain. S&P 500 gained 1.85% and closed at 4,136.25.
Uptick coincides with some positive signs published earlier as data for United States Average Hourly Earnings published yesterday at 12:30 UTC came out at 0.5%, beating projections of 0.3% and showing improvement over the preceding figure of 0.3%.
Despite yesterday's market climb several technology stocks suffered losses. Take a look at the market's Top Losers.
-10.39%: Monolithic Power Systems sheds 10.39% within $383.4 to $418.94 daily range
More of the same from yesterday's session: after ending Thursday at $458.93, Monolithic Power Systems Inc declined to $383.4 yesterday before closing at $411.27, thereby losing 10.39% in total. Monolithic Power Systems is currently trading with a market cap of $19.50 billion with an average daily volume of 478,635 shares. So far this year, it has been beating the S&P by 9.8%.
-10.33%: EPAM Systems suffers weak session with 10.33% loss; downside halted at $239.41
Yesterday's session continued down the same path: after ending Thursday at $270.41, EPAM Systems dropped to $239.41 early in yesterday's session and closed at $242.47. In total, it lost 10.33%. EPAM Systems's market cap is currently $14 billion with an average daily trading volume of 472,063 shares. So far this year, it has been doing worse than the Nasdaq by 40.2%.
-19.27%: risk-off sentiment pushes Lyft to 19.27% loss yesterday
Yesterday's session continued the recent downtrend: after ending Thursday at $10.69, Lyft declined to $8.33 yesterday before closing at $8.63, thereby losing 19.27% in total. Lyft has a market cap of $3.19 billion with an average daily volume of 21.14 million shares. So far this year, it has been under-performing the Nasdaq by 34.34%.
Lyft reported inconclusive earnings results Thursday, with EPS at -0.42 and revenues at $1 billion. Since the release of its earnings report, Lyft lost 20.75%.
