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June 22, 2023
Altice USA, Inc., Canopy Growth Corporation, Compugen Ltd. and others have been slumping.
The leading indices are climbing up — Nasdaq up 0.66%, trading at 13,600. S&P 500 goes up 0.23%, trading at 4,376.
Meanwhile, Crude Oil Inventories in United States fell short of market expectations (1.87 million) with a reading of -3.83 million, continuing the decline from the previous figure of 7.92 million.
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.
| Altice USA | crashes to $2.11 while on a 4 day downtrend
Altice USA, Inc. drops 8.26% since opening around $2.33 tough session sees the US cable television provider shedding 8.26% in early trade the trading volume is at 6.95 million, 167% above the 21-day average of 4.17 million.
Canopy Growth continues a 7 day downtrend; moves 0.05% this session
Today is looking a bit better: tough session sees the cannabis producer shedding 0.05% in early trade as things stand, Canopy Growth is holding steady at 59.95 cents after kicking off today's session at 59.77 cents.
Canopy Growth is currently trading with a market cap of $312.34 million with an average daily volume of 11.87 million shares. Approximately 6 months ago, the cannabis producer reached a significant high of $4.32 but has struggled to hold onto its gains and declined 86.12% since then. So far this year, it has been under-performing the Nasdaq by 97.1%. Pointing downwards for around a month.
| Compugen | a 24 cents (-19.2%) fall over 7 days
Compugen drops 2.19% since opening around $1.13 the clinical-stage predictive drug discovery company slides down from $1.14 to $1.11, losing 2.5 cents (2.19%).
