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May 11, 2023
The main stocks that are plunging: Ubiquiti Inc., Cirrus Logic, Inc., QuantumScape Corporation
Markets are mixed with Dow Jones drawing back 0.73% to 33,300. S&P 500 trades at 4,127.38 after losing 0.25%.
Current market events are being influenced by ambiguous macro data as United States Producer Price Index released earlier showed a marked improvement to 0.2% from the preceding data of -0.4%, but fell short of the 0.3% figure forecast by a consensus of market analysts.
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.
| Ubiquiti | a $89.59 (-34.27%) fall over 28 days
Ubiquiti Inc. drops 1.94% since opening around $182 the wireless equipment maker dropped to its lowest point in 2 years at $177.73. It later recovered 84 cents and trades at $178.57. After dipping down to $177.73 today, the wireless equipment maker is recovering but is not yet all the way back to $182.1. Based on current prices, Ubiquiti shareholders are currently earning an annual dividend yield of 1.34% after the company distributed a quarterly dividend of 60 cents per share for all eligible shareholders as of Monday, February 13th. The most recent payment was made on Tuesday, February 21st.
| Cirrus Logic | slumps to $78.32 while on a 29 day downtrend
Cirrus Logic drops 0.77% since opening around $78.69 after dipping as low as $77.17, the Texan semiconductor supplier is recovering ground lost since the previous session close ($78.93); currently trading at $78.32.
| QuantumScape | retreats to $6.03 while on an 18 day downtrend
QuantumScape drops 2.17% since opening around $6.13 the solid state lithium battery developer slides down from $6.16 to $6.03, losing 13.39 cents (2.17%).
