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April 09, 2023
Curaleaf Holdings, Inc., Otonomo Technologies Ltd., Virgin Galactic Holdings, Inc. have been the noticable stocks on a downtrend. Here is what you need to know.
Leading equity indices in the US rose as Nasdaq closed the day at 12,100, having gained 0.76%. S&P 500 ended the session at 4,105 after a 0.36% gain.
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.
| Curaleaf | continues a 25 day decline; slips 3.72% Thursday
More of the same from Thursday's session: early in Thursday's session, Curaleaf Holdings, Inc. dropped to $2.42 from $2.53 at the end of Wednesday, before closing at $2.44. During the session, it lost 3.72%. After setting a $2.42 – $2.55 range, Curaleaf closed the day 3.72% lower at $2.44. The day's trading volume totalled 645,749 shares — slightly below the 21-day average of 914,212.
Curaleaf has a market cap of $1.83 billion with an average daily volume of 914,212 shares. 4 months ago the leading medical and recreational marijuana dispensary reached a significant high of $7.57 but has consequently lost 66.58% since then. Trending downwards for around 3 months.
| Otonomo | 28.49% (13.78 cents) depreciation over 8 days (1.7225 cents per day average)
Thursday's session continued down the same path: despite the risk-off mood, Otonomo was range-bound between 38.1 cents to 43.01 cents and settled at 39 cents. After setting a 38.1 cents – 43.01 cents range, Otonomo closed the day 4.32% lower at 39 cents. Trading volume totalled 217,423 which equates to around 88% of the stock's 21-day average Thursday.
The car data exchange platform's market cap currently stands at $54.90 million with an average daily trading volume of 247,429 shares. Since its 52-week high of $1.94, the Israeli car data marketplace has lost 79.18% over the last twelve months.
Virgin Galactic continues a 6 day downtrend; descends 1.25% Thursday
After setting a $2.98 – $3.18 range, Virgin Galactic closed the day 1.25% lower at $3.15. The space tourism spearhead has recovered almost all of its session losses after dipping down to $2.98 Thursday. Daily trading volume (13.67 million shares) increased, making up 153% of the 21-day average (8.95 million).
