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April 03, 2023
Mullen Automotive, Inc., TuSimple Holdings Inc., Confluent, Inc. Class A Common Stock are at the top of this list of down trending stocks.
Markets are mixed with Dow Jones up to 33,600, gaining 0.97%. S&P 500 up 0.35%, trading at 4,123.74.
This limbo state is reflected by market data published as United States ISM Manufacturing PMI (Mar) came out at 46.3, while a consensus of analysts was expecting 47.5.
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.
Having fallen 13.25% from 13.13 cents in the current session, Mullen Automotive, Inc. is now trading at 11.39 cents. After dipping as low as 11.12 cents, the US automotive and EV manufacturer is recovering ground lost since the previous session close (13.13 cents); currently trading at 11.39 cents. Current trading volume stands at 247.12 million; 108% slightly above the 21-day average of 229.20 million.
After dipping as low as $1.41, the US holding company is recovering ground lost since the previous session close ($1.47); currently trading at $1.44. Having fallen 2.14% from $1.47 in the current session, TuSimple Holdings is now trading at $1.44.
The company is currently trading with a market cap of $345.86 million with an average daily volume of 2 million shares. The self-driving technology developer has shed 82% over the past six months. So far this year, it has been doing worse than the Nasdaq by 25.29%. Trading mostly sideways for 3 months.
TuSimple Holdings is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is -0.58 and the consensus revenue estimate is $2.44 million.
| Confluent | maintaining a 20 day downtrend having fallen 19.14%
Having fallen 1.6% from $24.07 in the current session, Confluent is now trading at $23.68. The data infrastructure provider slides down from $24.07 to $23.68, losing 38.5 cents (1.6%).
