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June 07, 2023
Markets closed higher yet Coinbase Global, Inc., Ciena Corporation, AppLovin Corporation top this unflattering list of yesterday's losers
After yesterday's closing bell, leading equity indices in the US rose as Nasdaq closed the day at 13,276, having gained 0.36%. S&P 500 ended the session at 4,284 after a 0.24% gain.
More data out yesterday as United States API Weekly Crude Oil Stock released yesterday at 20:30 UTC with a figure of -1.71 million, while the previous figure was 5.20 million.
Despite yesterday's market climb several technology stocks suffered losses. Take a look at the market's Top Losers.
Coinbase | Currently down 12.09% at $51.61
Coinbase Global, Inc. traded at $51.61 after making its biggest single-day drop of $7.09 (12.09%) since Mar 27. Coinbase hit a significant low of $32.53 around 5 months ago, but has since recovered 80.46%. The Nasdaq has been doing worse in 2022, it has been passing it by 22.42%. Coinbase's market cap currently stands at $12.11 billion with an average daily trading volume of 13.42 million shares. $736.40 million was Coinbase's last reported revenue with 15 cents being the current EPS.
Applovin | Closed yesterday's session at $23.3
After ending Monday at $25.6, Applovin dropped to $23.24 early in yesterday's session and closed at $23.3. In total, it lost 9%.
Ciena | Closed down 10.76% at $42.39 yesterday
Ciena traded at $42.39 after making its biggest single-day drop of $5.11 (10.76%) since November 2022. The telecoms networking equipment has shed 15.18% over the past three months. So far this year, it has been doing worse than the Nasdaq by 36.79%. The company's market cap currently stands at $6.32 billion with an average daily volume of 2 million shares.
