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April 10, 2023
Curaleaf Holdings, Inc., Otonomo Technologies Ltd., Virgin Galactic Holdings, Inc. and others have been dropping. Here is what you should know.
Markets were up Thursday; Nasdaq ended the session at 12,100 after a 0.76% gain. S&P 500 closed the day at 4,105, having gained 0.36%.
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 | 37.05% ($1.34) depreciation over 25 days (5.36 cents per day average)
After setting a $2.42 – $2.55 range, Curaleaf Holdings, Inc. closed the day 3.72% lower at $2.44. After ending Wednesday at $2.53, Curaleaf declined to $2.42 Thursday before closing at $2.44, thereby losing 3.72% in total. The day's trading volume totalled 645,749 shares — slightly below the 21-day average of 914,212.
| Otonomo | 28.49% (13.78 cents) depreciation over 8 days (1.7225 cents per day average)
After setting a 38.1 cents – 43.01 cents range, Otonomo closed the day 4.32% lower at 39 cents. Despite the risk-off mood, Otonomo was range-bound between 38.1 cents to 43.01 cents and settled at 39 cents. The day's trading volume totalled 217,423 shares — slightly below the 21-day average of 247,429.
| Virgin Galactic | continues a 6 day decline; slips 1.25% Thursday
After setting a $2.98 – $3.18 range, Virgin Galactic closed the day 1.25% lower at $3.15. The spaceflight pioneer has recovered almost all of its session losses after dipping down to $2.98 Thursday. Daily trading volume (13.67 million shares) was above the current multiday average of 8.95 million.
