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June 01, 2023
Foot Locker, Inc., Advance Auto Parts Inc, Petco Health and Wellness Company, Inc. are currently leading the list of down-trending stocks.
Leading equity indices in the US rose as S&P 500 closed the day at 4,221, having gained 0.99%. Nasdaq gained 1.28% and closed at 13,100.
Uptick coincides with some positive signs published earlier as United States Crude Oil Inventories beat the -1.10 million projections, with 4.49 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.
| Foot Locker | 40.35% ($16.24) depreciation over 10 days ($1.62 per day average)
After setting a $24.76 – $25.41 range, Foot Locker, Inc. closed the day 2.09% lower at $24.79. Despite the risk-off mood, Foot Locker was range-bound between $24.76 to $25.41 and settled at $24.79. The day's trading volume totalled 3.51 million shares — below the 21-day average of 5.89 million. Foot Locker disclosed a quarterly dividend of 40 cents per share on Wednesday, February 15th that was paid on Friday, April 28th to all shareholders of record up until Friday, April 14th. Based on current prices, the company's decision thereby provides Foot Locker investors with an annual dividend yield of 6.45%.
| Advance Auto Parts | continues a 7 day decline; plunges 6.67% today
After setting a $67.8 – $71.96 range, Advance Auto Parts closed the day 6.67% lower at $68.03. After closing the previous day at $72.89, the US auto aftermarket parts provider dropped to $67.8, hitting its lowest point in 10 years. It later recovered 23 cents and is now trading at $68.03. Pronounced bearish sentiment in the market pushed the US auto aftermarket parts provider into a notable 6.67% slide today, falling $4.86 and ultimately closing at $68.03. Daily trading volume (9.43 million shares) increased, making up 465% of the 21-day average (2 million). Advance Auto Parts disclosed a quarterly dividend of $1.5 per share on Tuesday, February 21st that was paid on Friday, April 28th to all shareholders of record up until Friday, April 14th. Based on current prices, the company's decision thereby provides Advance Auto Parts investors with an annual dividend yield of 8.82%.
Petco continues a 6 day downtrend; withdraws 1.83% today
Today's session continued the recent downtrend: slightly down but mostly flat: Petco ranged between $7.45 and $7.75 before closing at $7.5. After setting a $7.45 – $7.75 range, Petco closed the day 1.83% lower at $7.5. Trading volume totalled 3.58 million which equates to around 91% of the stock's 21-day average today.
Currently, the "category-defining" health and wellness company has a market capitalization of $2 billion with an average daily volume of 3.94 million shares. The US pet retailer is now trading 25.83% below its 3-month high of $17.07. Petco expected revenue of $1.51 billion with an EPS of 5 cents.
