Markets closed sideways but monday.com Ltd., GDS Holdings Limited, Weibo Corporation drop and make it on this unflattering list of yesterday's losing technology stocks.
A quick update: markets did not have a clear cut direction — Dow Jones ended the session at 33,431 after a 0.12% gain. Nasdaq closed 11,676 after a stable day.
Current market events are being influenced by ambiguous macro data as United States Factory Orders released yesterday at 15:00 UTC is better than expected at -1.6% but down from preceding data of 1.7% according to new data.
While markets traded sideways yesterday, some technology stocks suffered significant losses. Here is the list of Top Losers from yesterday:
Weibo | Closed yesterday's session at $18.32
Having fallen $4.16 in 15 days, Yesterday's session continued the recent downtrend: after ending Friday at $19.13, Weibo declined to $18.13 yesterday before closing at $18.32, thereby losing 4.23% in total.
-5.39%: GDS Holdings lost 5.39% during yesterday's session; goes up in pre-market trading (+2.05% to $19.89)
After ending Friday at $20.6, GDS Holdings dropped to $19.44 early in yesterday's session and closed at $19.49. In total, it lost 5.39%. GDS Holdings's market cap currently stands at $3.71 billion with an average daily volume of 932,487 shares. So far this year, it has been under-performing the Nasdaq by 28.13%.
Monday.com | -5.69% at $147.39
Monday.com hit a significant low of $76.46 around 3 months ago, but has since recovered 104.39%. Currently, the project management software company has a market capitalization of $6.44 billion with an average daily trading volume of 967,197 shares. Monday.com is forecasted to generate revenues of $141.23 million and EPS of $-1.06.