Markets closed higher yet Tuya Inc., WalkMe Ltd., Telefonaktiebolaget LM Ericsson (publ) top this unflattering list of Friday's losers
A quick update: markets had an interesting day Friday; Nasdaq closed the day at 11,079, having gained 0.71%. S&P 500 gained 0.4% and closed at 3,999.
Despite Friday's market climb several technology stocks suffered losses. Take a look at the market's Top Losers.
Ericsson | Currently down 4.27% at $6.06
Telefonaktiebolaget LM Ericsson (publ) traded at $6.06 after making its biggest single-day drop of 27 cents (4.27%) since December 2022. Having set a significant high of $12.75 11 months ago, the Swedish telecoms giant is trading 50.35% lower. So far in 2022, it has been doing worse than the Nasdaq by 4.36%. Ericsson's market cap is currently $20.20 billion with an average daily trading volume of 10.25 million shares.
Ericsson is scheduled to announce earnings results Friday. The consensus EPS estimate is 0.21 and the consensus revenue estimate is $7.43 billion.
-4.62%: Friday's lacklustre sentiment ensured Tuya slid 4.62%
Friday's session continued down the same path: despite the risk-off mood, Tuya was range-bound between $2.47 to $2.65 and settled at $2.48. Tuya has a market cap of $1.38 billion with an average daily volume of 1 million shares. So far in 2022 it has been beating the Nasdaq by 15.78%.
-4.58%: WalkMe bears in charge as markets close for Dr. Martin Luther King Jr. Day
More of the same from Friday's session: after a mostly steady day, the Californian SaaS platform lost 4.58% deep into the session, closing at $9.16. Currently, the Californian SaaS platform has a market capitalization of $774 million with an average daily trading volume of 102,448 shares.