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March 12, 2023
DocuSign is Friday's top mover after declining 22.85%
Leading equity indices in the US declined as S&P 500 slipped 1.45% and closed at 3,861.59. Nasdaq shed 1.76% and closed at 11,139.
“Top Movers” are assets that recorded the highest percentage change compared to their nearest peers. Friday's most active technology stocks are listed below.
DocuSign | Closed $14.72 (-22.85%) lower at $49.69
DocuSign Inc traded at $49.69 after making its biggest single-day drop of $14.72 (22.85%) since June 2022. DocuSign hit a significant low of $39.8 around 4 months ago, but has since recovered 61.83%. So far this year, it has been under-performing the Nasdaq by 16.51%. The company's market cap currently stands at $9.99 billion with an average daily volume of 5 million shares.
DocuSign was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.07 per share on revenue of $659.58 million, topping estimates of 0.04 per share on revenue of $626.93 million.
Risk-off sentiment pushes Bill.com to 14.9% loss Friday
Friday's session continued the recent downtrend: Bill.com shed 14.9%, falling to $68.35. Bill.com has a market cap of $7.27 billion with an average daily trading volume of 2.65 million shares. So far this year, it has been doing worse than the Nasdaq by 40.38%.
Risk-off mood drags Sunrun 12.31% lower
More of the same from Friday's session: after ending Thursday at $23.64, Sunrun dropped to $19.62 early in Friday's session and closed at $20.73. In total, it lost 12.31%. Currently, the photovoltaic solar energy firm has a market capitalization of $4.44 billion with an average daily volume of 8.80 million shares. So far this year, it has been under-performing the Nasdaq by 16.74%.
