TuSimple Holdings Inc., CommScope Holding Company, Inc., Herbalife Nutrition Ltd. and others have been slumping.
Leading equity indices in the US declined as Nasdaq lost 1.73% and ended the session at 10,343. S&P 500 shed 1.06% and closed at 3,720.
Amid the market gloom, United States ISM Non-Manufacturing PMI (Oct) released yesterday at 14:00 UTC with a figure of 54.4, while the previous figure was 56.7.
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.
54.83% drop, 4 days of losing: Bearish TuSimple Holdings declines 55 cents (16.18%)
Yesterday's session continued down the same path: an influx of sellers pushed TuSimple Holdings to end the session lower around $2.85, while establishing a $2.83 to $3.42 session range yesterday. TuSimple Holdings has lost 54.83% over the last 4 days. Daily trading volume (8.96 million shares) increased, making up 239% of the 21-day average (3.75 million).
The company's market cap is $641.53 million with an average daily volume of 3.75 million shares. Having set a significant high of $40.73 a day ago, TuSimple Holdings is trading 19.3% lower. So far in 2022, it has been doing worse than the Nasdaq by 39.37%. Pointing downwards for around 3 months.
Plunges for 5 days: CommScope Holding Company, Inc. closed at $9.53 after losing 25.95% yesterday
Over the last 5 days, CommScope Holding Company, Inc. has fallen 29%. yesterday's session continued down the same path: after ending Wednesday at $12.87, CommScope Holding Company, Inc. dropped to $9.21 early in yesterday's session and closed at $9.53. In total, it lost 25.95%. Daily trading volume (13.34 million shares) was higher than the current multiday average of 3.11 million.
Crashes for 8 days: Risk-off sentiment pushes Herbalife Nutrition to 10% loss yesterday
More of the same from yesterday's session: early in yesterday's session, Herbalife Nutrition dropped to $15.79 from $17.56 at the end of Wednesday, before closing at $15.8. During the session, it lost 10%.
Herbalife Nutrition's downtrend has seen it decline 28.83% in 8 days daily trading volume (2.23 million shares) increased, making up 178% of the 21-day average (1.26 million).
Herbalife Nutrition has a market cap of $1.55 billion with an average daily trading volume of 1.26 million shares. Herbalife Nutrition is now trading 11.14% above the significant low ($15.8) it slumped to a day ago.
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 26.55%.