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May 27, 2023Markets closed higher yet PagSeguro Digital Ltd., Sabre Corporation, New Relic, Inc. top this unflattering list of yesterday's losers
A review of what happened yesterday: leading equity indices in the US rose as Nasdaq ended the session at 12,976 after a 2.19% gain. S&P 500 closed the day at 4,205.45, having gained 1.3%.
Today's rally takes place amid mixed market indicators — United States Core Durable Goods Orders fell short of the 0% projections, with new data of -0.2%.
Despite yesterday's market climb several technology stocks suffered losses. Take a look at the market's Top Losers.
-13.86%: bearish mood pushes PagSeguro Digital to session low of $10.03
Yesterday's session continued the recent downtrend: early in yesterday's session, PagSeguro Digital Ltd. dropped to $10.03 from $12.12 at the end of Thursday, before closing at $10.44. During the session, it lost 13.86%. The company has a market cap of $3.39 billion with an average daily volume of 4.85 million shares. So far this year, it has been beating the Nasdaq by 1.79%.
-9.46%: Sabre ticks up 1.09% in after hours trading; currently at $3.24
Yesterday's session continued down the same path: early in yesterday's session, Sabre dropped to $3.16 from $3.54 at the end of Thursday, before closing at $3.21. During the session, it lost 9.46%. Currently, the largest US distribution systems provider has a market capitalization of $1 billion with an average daily trading volume of 6.72 million shares.
New Relic | -7.54% at $72.34
New Relic has lost 14.84% over the last 7 days. More of the same from yesterday's session: grinding lower but with no clear-cut direction, the cloud-based software developer closed the session at $72.34 after forming a distinct $72.07 – $82.3 range.
New Relic reported ambiguous earnings results Tuesday, with EPS at -0.84 and revenues at $242.49 million. Since the release of its earnings report, New Relic lost 13.34%.
