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June 10, 2023
Advance Auto Parts Inc, HEXO Corp., Mullen Automotive, Inc. are currently leading the list of down-trending stocks.
Markets closed higher yesterday; Dow Jones gained 0.13% and closed at 33,877. Nasdaq closed the day at 13,259, having gained 0.16%.
More data out yesterday as United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 172,400, while the previous figure was 162,600.
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.
| Advance Auto Parts | continues a 14 day decline; slips 1.79% yesterday
After setting a $63.56 – $64.88 range, Advance Auto Parts Inc closed the day 1.79% lower at $63.58. Slightly down but mostly flat: Advance Auto Parts ranged between $63.56 and $64.88 before closing at $63.58. Trading volume totalled 3.28 million which equates to around 97% of the stock's 21-day average yesterday. 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 9.44%.
HEXO Corp. continues a 17 day downtrend; falls 8.06% yesterday
After setting a 80.33 cents – 90.99 cents range, HEXO Corp. closed the day 8.06% lower at 82.15 cents. Daily trading volume (475,269 shares) was higher than the current multiday average of 328,107. HEXO Corp. is scheduled to announce earnings results Monday. The consensus EPS estimate is -0.01 and the consensus revenue estimate is $18.76 million.
The company trades at 82.15 cents ahead of quarterly performance report which is scheduled to be released Monday.
| Mullen | 42.16% (27.89 cents) depreciation over 6 days (4.6483 cents per day average)
After setting a 41.5 cents – 49 cents range, Mullen closed the day 7.69% lower at 43.2 cents. An influx of sellers pushed the automotive industry company to session lows around 41.5 cents while establishing a 41.5 cents to 49 cents session range yesterday. Daily trading volume (69.30 million shares) increased, making up 155% of the 21-day average (44.68 million).
