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June 11, 2023
Advance Auto Parts Inc, HEXO Corp., Mullen Automotive, Inc. and others have been slumping.
Leading equity indices in the US rose as Dow Jones closed the day at 33,877, having gained 0.13%. Nasdaq ended the session at 13,259 after a 0.16% gain.
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 | 46.77% ($54.7) depreciation over 14 days ($3.91 per day average)
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. Friday's trading volume was 3.28 million shares which is slightly below the 21-day average of 3.38 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 9.44%.
| HEXO Corp. | 42.95% (54.65 cents) depreciation over 17 days (3.2147 cents per day average)
After setting a 80.33 cents – 90.99 cents range, HEXO Corp. closed the day 8.06% lower at 82.15 cents. An influx of sellers pushed the high-quality cannabis producer to end the session lower around 82.15 cents, while establishing a 80.33 cents to 90.99 cents session range Friday. HEXO Corp. is scheduled to announce earnings results tomorrow. The consensus EPS estimate is -0.01 and the consensus revenue estimate is $18.76 million.
HEXO Corp. is scheduled to announce earnings results tomorrow. The consensus Earnings Per Share estimate is -0.01 and the consensus revenue estimate is $18.76 million.
| Mullen Automotive | 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 Automotive closed the day 7.69% lower at 43.2 cents. Pronounced bearish market sentiment ensured that the US automotive and EV manufacturer made a notable 7.69% loss Friday, declining 3.6 cents and ultimately closing at 43.2 cents. Daily trading volume (69.30 million shares) was higher than the current multiday average of 44.68 million.
