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May 31, 2023Markets closed sideways but Weibo Corporation, CommScope Holding Company, Inc., New Relic, Inc. drop and make it on this unflattering list of yesterday's losing technology stocks.
After yesterday's closing bell, markets completed a mixed session yesterday while Nasdaq gained 0.32% and closed at 13,017. Dow Jones closed at 33,043, a 0.15% change.
Current market events are being influenced by ambiguous macro data as United States Consumer Confidence beat the 99 projections, with 102.3.
While markets traded sideways yesterday, some technology stocks suffered significant losses. Here is the list of Top Losers from yesterday:
Weibo | Closed down 7.42% at $14.15 yesterday
Having fallen $2.08 in 9 days, More of the same from yesterday's session: after ending Friday at $15.29, Weibo declined to $13.66 yesterday before closing at $14.15, thereby losing 7.42% in total.
-3.54%: New Relic ticks up 3.87% in after hours trading; currently at $72.48
Yesterday's session continued down the same path: an influx of sellers pushed the California-based technology company to session lows around $69.72 while establishing a $69.72 to $74.09 session range yesterday. Currently, the cloud-based software developer has a market capitalization of $4.90 billion with an average daily volume of 1.18 million shares.
CommScope Holding Company, Inc. | Closed down 5.84% at $4.19 yesterday
Having set a significant low of $4 7 days ago, the US network infrastructure provider is trading 10.97% higher. The US network infrastructure provider's market cap currently stands at $879 million with an average daily trading volume of 3.14 million shares. CommScope Holding Company, Inc. last reported revenue of $2.23 billion with an EPS of 31 cents.
