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April 25, 2023
CommScope Holding Company, Inc., OrganiGram Holdings Inc., Baidu Inc have been the noticable stocks on a downtrend. Here is what you need to know.
The leading indices are currently lower — S&P 500 drawing back 1.42% to 4,078. Nasdaq slipping 1.74% and closing at 11,828.
Meanwhile, United States New Home Sales (Mar) released today at 14:00 UTC with a figure of 683,000, while the previous figure was 623,000.
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.
| CommScope Holding Company, Inc. | a $1.77 (-28.41%) fall over 16 days
More of the same today: drifting lower, the broadband enterprise business is nearing the end of the session at $4.56 after ranging between $4.51 and $4.64 today. Having fallen 0.87% from $4.6 in the current session, CommScope Holding Company, Inc. is now trading at $4.56.
The US network infrastructure provider's market cap currently stands at $956.45 million with an average daily trading volume of 2.99 million shares. 5 months ago the broadband enterprise business reached a significant high of $13.43 but has consequently lost 65.75% since then. $2.32 billion was CommScope Holding Company, Inc.'s last reported revenue with 43 cents being the current EPS.
| OrganiGram Holdings | a 17.85 cents (-27.38%) fall over 11 days
Having fallen 1.96% from 51 cents in the current session, OrganiGram Holdings is now trading at 50 cents. The medical cannabis provider is sliding down from 51 cents to 50 cents, taking a 1.96% loss as it nears the end of the session.
| Baidu | a 27% fall over a 19 day period
Having fallen 4.78% from $122.62 in the current session, Baidu is now trading at $116.76. After ending yesterday at $116.76, the Chinese technology company dropped $5.86 to $116.55 today — reaching its lowest point in 3 months. As the current session draws to a close, the Chinese tech giant is hovering around the $116.76 level after closing yesterday at $122.62 and dropping by 4.78%. As things stand, trading volume is at 3 million, above the 21-day average of 2.80 million.
