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May 01, 2023
Signature Bank, Cloudflare, Inc., OrganiGram Holdings Inc. have been the noticable stocks on a downtrend. Here is what you need to know.
Markets are up including news that Dow Jones up to 34,228, gaining 0.38%. S&P 500 goes up 0.22%, trading at 4,178.77.
Meanwhile, United States ISM Manufacturing PMI (Apr) released today at 14:00 UTC with a figure of 47.1, while the previous figure was 46.3.
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.
| Signature Bank | tumbles to 7.18 cents while on an 8 day downtrend
Having fallen 22.88% from 9.31 cents in the current session, Signature Bank is now trading at 7.18 cents. Today, Signature Bank trades below the 9 cents level for first time in 4 weeks; it lost 2.13 cents on a day following a closing value of 9.31 cents. Tough session sees the full-service commercial bank shedding 22.88% in early trade Signature Bank distributed a dividend of 70 cents per share on Friday, February 10th for all shareholders on record up until Friday, January 27th. Based on current prices, the decision means shareholders are receiving an annualised dividend yield of 3,899.72%.
| Cloudflare | a 30.28% fall over a 12 day period
Having fallen 3.86% from $47.05 in the current session, Cloudflare is now trading at $45.23. The US content delivery network slides down from $47.05 to $45.23, losing $1.81 (3.86%).
| OrganiGram Holdings | draws back to 49.68 cents while on a 15 day downtrend
Having fallen 0.64% from 50 cents in the current session, OrganiGram Holdings is now trading at 49.68 cents. OrganiGram Holdings is down to 49.68 cents, after ending Friday at 50 cents. Overall, a 0.64% loss or 0.32 cents today.
