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March 13, 2023
Markets closed lower, with DocuSign Inc, Bill.com Holdings, Inc., Sunrun Inc. making Friday's list of top losers.
A quick update before today's session: leading equity indices in the US declined as S&P 500 slipped 1.45% and closed at 3,861.59. Nasdaq closed at 11,139, a 1.76% change.
In line with markets falling Friday, some technology stocks made the list of top losers. Take a look.
-22.85%: risk-off mood drags DocuSign 22.85% lower
Friday's session continued down the same path: after ending Thursday at $64.41, DocuSign Inc declined to $49.42 Friday before closing at $49.69, thereby losing 22.85% in total. DocuSign's market cap is currently $9.99 billion with an average daily trading volume of 5 million shares.
DocuSign was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.07 per share on revenue of $659.58 million, topping estimates of 0.04 per share on revenue of $626.93 million.
Bill.com | Closed $11.97 (-14.9%) lower at $68.35
Having fallen $10.23 in 6 days, More of the same from Friday's session: the cloud-based application developer plunged into the red after losing 14.9%, declining to $68.35.
-12.31%: risk-off sentiment pushes Sunrun to 12.31% loss Friday
Friday's session continued the recent downtrend: after ending Thursday at $23.64, Sunrun dropped to $19.62 early in Friday's session and closed at $20.73. In total, it lost 12.31%. The company's market cap currently stands at $4.44 billion with an average daily volume of 8.80 million shares. So far this year, it has been doing worse than the Nasdaq by 16.74%.
