| 
June 29, 2023
Mullen Automotive, Inc., Canopy Growth Corporation, Peloton Interactive Inc and others have been slumping.
Markets completed a mixed session yesterday, as Dow Jones lost 0.22% and ended the session at 33,853. Nasdaq closed the day at 13,600, having gained 0.27%.
Current market events are being influenced by ambiguous macro data as United States Crude Oil Inventories published yesterday at 14:30 UTC came out at -9.60 million, falling short of the -1.76 million projections and continuing its decline from the previous -3.83 million figure.
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.
| Mullen | 44.78% (6.26 cents) depreciation over 6 days (1.0433 cents per day average)
Yesterday's session continued down the same path: the automotive industry company has recovered almost all of its session losses after dipping down to 10.75 cents yesterday. After setting a 10.75 cents – 13 cents range, Mullen Automotive closed the day 19.52% lower at 11.01 cents. Daily trading volume (394 million shares) increased, making up 224% of the 21-day average (176.26 million).
Currently, the automotive industry company has a market capitalization of $26.82 million with an average daily volume of 176.26 million shares. Over the past a month, the automotive industry company has retreated 93.24% from a noteworthy peak of $2.02. So far this year, it has been doing worse than the Nasdaq by 84.35%. On a negative trend for around a month. Mullen Automotive expected revenue of $37.3 million with an EPS of $4.
Canopy Growth continues a 12 day downtrend; dips 8.88% yesterday
After setting a 42.69 cents – 46 cents range, Canopy Growth closed the day 8.88% lower at 43.19 cents. Early in yesterday's session, Canopy Growth dropped to 42.69 cents from 47.4 cents at the end of Tuesday, before closing at 43.19 cents. During the session, it lost 8.88%. Daily trading volume (16.51 million shares) increased, making up 133% of the 21-day average (12.41 million).
| Peloton Interactive | 24.66% ($2.19) depreciation over 10 days (21.9 cents per day average)
After setting a $7.2 – $7.46 range, Peloton closed the day 2.67% lower at $7.3. The fitness platform provider has recovered almost all of its session losses after dipping down to $7.2 yesterday. The day's trading volume totalled 10.27 million shares — slightly under the 21-day average of 11.82 million.
