Markets closed higher yet PagSeguro Digital Ltd., StoneCo Ltd., Autodesk top this unflattering list of Wednesday's losers
A quick update before today's session: markets had an interesting day Wednesday; Nasdaq ended the session at 11,300 after a 0.99% gain. S&P 500 closed the day at 4,027.26, having gained 0.59%.
Despite the climb, markets experienced Wednesday, some technology stocks suffered losses. Take a look at our top losers.
Autodesk | Closed Wednesday's session at $197.07
Autodesk hit a significant low of $164.31 around 5 months ago, but has since recovered 27.14%. So far in 2022, it has been outperforming the Nasdaq by 11.38%. Autodesk's market cap is currently $42.54 billion with an average daily volume of 1.94 million shares.
The company reported earnings of 1.03 per share Tuesday, falling short of expectations of 1.07. Revenue was also lower than expected at $1.28 billion versus $1.28 billion. Since the release of its earnings report, Autodesk lost 4.57%
StoneCo | Currently down 7.12% at $10.44
Having fallen 29 cents in 4 days, Wednesday's session continued the recent downtrend: after ending Tuesday at $11.24, StoneCo dropped to $10.24 early in Wednesday's session and closed at $10.44. In total, it lost 7.12%.
PagSeguro Digital | -14.57% at $10.26
PagSeguro Digital's bearish run has lasted 3 days so far (-24 cents). Wednesday's session continued down the same path: after ending Tuesday at $12, PagSeguro Digital declined to $9.53 Wednesday before closing at $10.26, thereby losing 14.57% in total. Daily trading volume (15.18 million shares) was higher than the current multiday average of 3.64 million.