The main small cap stocks that are plunging: Marathon Digital Holdings, Inc., Herbalife Nutrition Ltd., Riot Blockchain, Inc.
Leading equity indices in the US declined as S&P 500 lost 2.5% and ended the session at 3,759.69. After dropping 3.36%, Nasdaq closed at 10,525.
Meanwhile, United States Interest Rate released yesterday at 18:00 UTC with a figure of four, while the previous figure was 3.25.
What is a downtrend?
A trend is the overall direction of a market or an asset's trading price over a certain period. A downtrend is when the price is generally pointing downwards; there can be certain periods of time when the price increases, yet the trend remains in a downward direction.
Falls for 7 days and losing 26.05%, Risk-off sentiment pushes Marathon Digital Holdings, Inc. to 10.68% loss yesterday
Having fallen $2.54 in 7 days, yesterday's session continued the recent downtrend: pronounced bearish market sentiment ensured that Marathon Digital Holdings, Inc. made a notable 10.68% loss yesterday, declining $1.31 and ultimately closing at $10.91. Daily trading volume (21.97 million shares) was higher than the current multiday average of 16.48 million.
Marathon Digital Holdings, Inc. is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is -0.36 and the consensus revenue estimate is $25 million.
A 7 day downtrend, falling 20.9%: Bearish mood pushes Herbalife Nutrition to session low of $17.41
Over the last 7 days, Herbalife Nutrition has fallen 20.9%. yesterday's session continued down the same path: after ending Tuesday at $20.91, Herbalife Nutrition dropped to $17.41 early in yesterday's session and closed at $17.56. In total, it lost 16%. Daily trading volume (3.66 million shares) was above the current multiday average of 1.19 million.
Herbalife Nutrition reported earnings results Monday; with EPS at 0.91, these results are ambiguous when compared to a consensus of 0.74 Earnings Per Share. Since the release of its earnings report, Herbalife Nutrition lost 18.36%.
Dips for 6 days: Bearish Riot Blockchain, Inc. declines 58 cents (9%)
More of the same from yesterday's session: an influx of sellers pushed Riot Blockchain, Inc. to end the session lower around $5.87, while establishing a $5.85 to $6.52 session range yesterday. Riot Blockchain, Inc. has lost 16.86% over the last 6 days. Daily trading volume (13.27 million shares) was higher than the current multiday average of 9.70 million.
The company has a market cap of $981 million with an average daily trading volume of 9.70 million shares. Riot Blockchain, Inc. is now trading 85.4% below the significant high of $44.19 it set around 11 months ago. The stock has been trending positively for about 4 months. Riot Blockchain, Inc. is forecasted to generate revenues of $78.35 million and EPS of 7.96 cents.