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April 25, 2023
Markets closed sideways but C3.ai, Inc., Confluent, Inc. Class A Common Stock, Coinbase Global, Inc. drop and make it on this unflattering list of yesterday's losing technology stocks.
A quick update: markets completed a mixed session yesterday, as Nasdaq shed 0.29% and closed at 12,037. Dow Jones closed the day at 33,875, having gained 0.2%.
While markets traded sideways yesterday, some technology stocks suffered significant losses. Here is the list of Top Losers from yesterday:
Coinbase | Closed yesterday's session at $54.75
Coinbase's bearish run has lasted 10 days so far (-$11.15). Yesterday's session continued down the same path: after ending Friday at $59.04, Coinbase dropped to $54.08 early in yesterday's session and closed at $54.75. In total, it lost 7.27%.
-7.46%: Confluent traders look to claw back yesterday's 7.46% decline to maintain ongoing trend
The prevailing bullish trend is beginning to fade following yesterday's downbeat session. After ending Friday at $24.53, Confluent declined to $22.36 yesterday before closing at $22.7, thereby losing 7.46% in total. Confluent has a market cap of $6.61 billion with an average daily trading volume of 2.53 million shares. So far this year, it has been under-performing the Nasdaq by 7.75%.
C3.ai | -2.8% to $17.35 in pre-market trade with 3 hours until open
The enterprise AI software provider has fallen back around 40.77% over the past 22 days, from a notable high of $33.87. The company's market cap currently stands at $2 billion with an average daily trading volume of 28.29 million shares. $66.67 million was C3.ai's last reported revenue with -57 cents being the current EPS.
