| 
July 01, 2023
Canopy Growth Corporation, Adaptive Biotechnologies Corporation, CRISPR Therapeutics AG and others have been slumping.
Markets had an interesting day yesterday; S&P 500 closed the day at 4,450.38, having gained 1.23%. Nasdaq gained 1.45% and closed at 13,800.
More data out yesterday as United States Core PCE Price Index (YoY) (May) came out at 4.6, while a consensus of analysts was expecting 4.7.
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.
| Canopy Growth | continues a 14 day decline; dips 11.38% yesterday
Yesterday's session continued down the same path: early in yesterday's session, Canopy Growth Corporation dropped to 38.4 cents from 43.77 cents at the end of Thursday, before closing at 38.79 cents. During the session, it lost 11.38%. After setting a 38.4 cents – 43 cents range, Canopy Growth closed the day 11.38% lower at 38.79 cents. Daily trading volume (29 million shares) was above the current multiday average of 13.69 million.
Canopy Growth is currently trading with a market cap of $227.55 million with an average daily volume of 13.69 million shares. Canopy Growth hit a significant low of 38.79 cents around a day ago, but has since recovered 12.84%. So far this year, it has been under-performing the Nasdaq by 106.47%. Trending downwards for around a month. Canopy Growth's last revenue report was $98.15 million with an EPS of -42 cents.
Adaptive Biotechnologies continues a 13 day downtrend; retreats 1.61% yesterday
After setting a $6.7 – $7 range, Adaptive Biotechnologies closed the day 1.61% lower at $6.71. Despite the risk-off mood, Adaptive Biotechnologies was range-bound between $6.7 to $7 and settled at $6.71. Yesterday's trading volume was 631,351 shares which is under the 21-day average of 1.11 million.
CRISPR Therapeutics continues a 27 day downtrend; slumps 1.54% yesterday
After setting a $55.83 – $58 range, CRISPR Therapeutics closed the day 1.54% lower at $56.14. After ending Thursday at $57.02, CRISPR Therapeutics declined to $55.83 yesterday before closing at $56.14, thereby losing 1.54% in total. Trading volume totalled 1 million which equates to around 86% of the stock's 21-day average yesterday.
