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June 16, 2023
Sundial Growers Inc., CRISPR Therapeutics AG, Logitech International S.A. and others have been dropping. Here is what you should know.
Leading equity indices in the US declined as after dropping 0.68%, Nasdaq closed at 13,700. S&P 500 slipped 0.37% and closed at 4,409.59.
On the flip side, highly important Retail Sales data from United States beat analyst expectations of -0.1% with a reading of 0.3%.
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.
Sundial Growers continues an 18 day downtrend; stumbles 1.41% today
After setting a $1.39 – $1.45 range, Sundial Growers Inc. closed the day 1.41% lower at $1.4. An influx of sellers pushed the high quality cannabis cultivator to end the session lower around $1.4, while establishing a $1.39 to $1.45 session range today. Today's trading volume was 2 million shares which is slightly below the 21-day average of 3.11 million.
| CRISPR Therapeutics | continues a 17 day decline; goes down 2.02% today
After setting a $57.61 – $59.81 range, CRISPR Therapeutics closed the day 2.02% lower at $57.75. An influx of sellers pushed the gene-editing biotech company to session lows around $57.61 while establishing a $57.61 to $59.81 session range today. Daily trading volume (1.77 million shares) was slightly above the current multiday average of 1.33 million.
| Logitech International | continues a 14 day decline; retreats 1.59% today
More of the same from today's session: grinding lower but with no clear-cut direction, the tech device developer closed the session at $56.91 after forming a distinct $56.79 – $58.13 range. After setting a $56.79 – $58.13 range, Logitech International closed the day 1.59% lower at $56.91. Daily trading volume (859,080 shares) increased, making up 127% of the 21-day average (673,790).
The company is currently trading with a market cap of $9 billion with an average daily trading volume of 673,790 shares. Having set a significant high of $68.15 5 months ago, the Swiss-American tech manufacturer is trading 15.14% lower. So far this year, it has been doing worse than the Nasdaq by 31.43%.
