Mullen Automotive, Inc., SuperCom Ltd., Opendoor Technologies Inc. and others have been dropping. Here is what you should know.

Leading equity indices in the US declined as after dropping 1.69%, Nasdaq closed at 11,400. Dow Jones was down 1.02% before closing the session at 32,817.

While price action maintains a negative bias, United States New Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 670,000, while the previous figure was 625,000.

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.

| Mullen Automotive | continues a 9 day decline; falls 4.69% yesterday

After setting a 22.51 cents – 23.98 cents range, Mullen Automotive, Inc. closed the day 4.69% lower at 23.15 cents. The automotive industry company has recovered almost all of its session losses after dipping down to 22.51 cents yesterday. Yesterday's trading volume was 111.87 million shares which is lower than the 21-day average of 172.82 million.

| SuperCom | 33.46% (83 cents) depreciation over 14 days (5.9286 cents per day average)

After setting a $1.78 – $1.88 range, SuperCom closed the day 3.76% lower at $1.79. After ending Thursday at $1.86, SuperCom dropped to $1.78 early in yesterday's session and closed at $1.79. In total, it lost 3.76%. Yesterday's trading volume was 29,677 shares which is lower than the 21-day average of 52,702.

| Opendoor Technologies Inc | 31.62% (52 cents) depreciation over 7 days (7.4286 cents per day average)

After setting a $1.55 – $1.74 range, Opendoor Technologies Inc closed the day 12.09% lower at $1.6. Opendoor Technologies Inc dropped by 12.09% (22 cents) yesterday, its largest single-day drop since November 2022; however, it is currently turning things around in after-hours trading as its goes up by 2.5% to $1.64. Early in yesterday's session, Opendoor Technologies Inc dropped to $1.55 from $1.82 at the end of Thursday, before closing at $1.6. During the session, it lost 12.09%. Opendoor Technologies Inc was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of -0.73 per share on revenue of $2.86 billion, topping estimates of -0.79 per share on revenue of $2.43 billion.

Opendoor Technologies Inc was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of -0.73 per share on revenue of $2.86 billion, topping estimates of -0.79 per share on revenue of $2.43 billion.