Markets closed higher yet Lyft, Inc., Lumentum Holdings Inc., Coinbase Global, Inc. top this unflattering list of yesterday's losers
Ahead of today's trading session: leading equity indices in the US rose as Dow Jones ended the session at 33,161 after a 1.02% gain. S&P 500 closed the day at 3,828, having gained 0.56%.
More data out yesterday as United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of 5.62 million, while the previous figure was -6.53 million.
Despite the climb, markets experienced yesterday, some technology stocks suffered losses. Take a look at our top losers.
Coinbase | -6.14% to $47.71 in pre-market trade with 30 minutes until open
Coinbase Global, Inc.'s bearish run has lasted 3 days so far (-$1.85). More of the same from yesterday's session: Coinbase plunged into the red after losing 10.78%, declining to $50.83. Daily trading volume (61.87 million shares) increased, making up 433% of the 21-day average (14.28 million).
The company reported earnings of -2.43 per share Thursday, falling short of expectations of -2.23. Revenue was also lower than expected at $590.34 million versus $653.58 million. Since the release of its earnings report, Coinbase lost 16.27%
Lumentum | -16.17% at $59
Having fallen $5.04 in 6 days, Yesterday's session continued down the same path: early in yesterday's session, Lumentum dropped to $58.73 from $70.38 at the end of Monday, before closing at $59. During the session, it lost 16.17%.
Lumentum was down, even though its quarterly earnings released on yesterday beat the analysts’ estimates. The reported earnings of 1.53 per share on revenue of $506.8 million, topping estimates of 1.18 per share on revenue of $503.57 million.
Lyft | Currently down 22.91% at $10.9
Lyft's downtrend has seen it decline 28.05% in 6 days Yesterday's session continued the recent downtrend: after ending Monday at $14.14, Lyft declined to $10.62 yesterday before closing at $10.9, thereby losing 22.91% in total. Daily trading volume (78.48 million shares) increased, making up 441% of the 21-day average (17.80 million).
The company reported earnings of -0.52 per share Monday, falling short of expectations of -0.38. Revenue was also lower than expected at $1 billion versus $1 billion. Lyft lost 20.67% since the release of its earnings report.