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May 08, 2023
Concentrix Corporation, Cirrus Logic, Inc., Mullen Automotive, Inc. and others have been slumping.
Markets are mixed with Nasdaq goes up 0.23%, trading at 12,264. Dow Jones trades at 33,636 after losing 0.11%.
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.
| Concentrix | a $34.85 (-29.93%) fall over 27 days
Having fallen 1.84% from $86.92 in the current session, Concentrix Corporation is now trading at $85.32. The IT service management company is sliding down from $86.92 to $85.32, taking a 1.84% loss as it nears the end of the session. Just recently, Concentrix's board disclosed a quarterly dividend of 27.5 cents per share to be paid on Tuesday, May 9th for all shareholders of record up until Friday, April 28th. Based on current prices, the company's decision thereby provides Concentrix investors with an annual dividend yield of 1.29%.
| Cirrus Logic | draws back to $77.92 while on a 26 day downtrend
Having fallen 1.94% from $79.46 in the current session, Cirrus Logic is now trading at $77.92. As the current session draws to a close, the Texan semiconductor supplier remains in the $77.31 – $80 range after closing Friday at $79.46 and dropping by 1.94%. Cirrus Logic reported earnings results Thursday; with EPS at 0.6 and revenues at $372.82 million, these results are mixed compared to a consensus of 0.84 Earnings Per Share and $367.69 million revenue. Since the release of its earnings report, Cirrus Logic lost 8.17%.
Cirrus Logic reported earnings results Thursday; with EPS at 0.6, these results are ambiguous when compared to a consensus of 0.84 Earnings Per Share. Since the release of its earnings report, Cirrus Logic lost 8.17%.
Mullen continues a 4 day downtrend; slides down 3.67% this session
Having fallen 3.67% from $1.5 in the current session, Mullen Automotive is now trading at $1.45. Drifting lower, the automotive industry company is nearing the end of the session at $1.45 after ranging between $1.38 and $1.62 today. Mullen is trading in a $1.38 – $1.62 range prior to its earnings announcement.
Mullen trades at $1.45 ahead of quarterly performance report which is scheduled to be released tomorrow.
