TuSimple Holdings Inc., Opendoor Technologies Inc., Marathon Digital Holdings, Inc. and others have been dropping. Here is what you should know.
Leading equity indices in the US declined as Dow Jones lost 1.95% and ended the session at 32,500. S&P 500 shed 2.08% and closed at 3,748.57.
On the flip side, United States Crude Oil Inventories beat analyst expectations of 1.36 million and the previous reading of -3.12 million with new data of 3.92 million.
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.
64.03% drop, 8 days of losing: Bearish TuSimple Holdings declines 16 cents (6.58%)
TuSimple Holdings Inc.'s bearish run has lasted 8 days so far (-$3.88). today's session continued down the same path: despite the risk-off mood, TuSimple Holdings was range-bound between $2.22 to $2.42 and settled at $2.27. Daily trading volume (8 million shares) was above the current multiday average of 5.35 million.
11 days of losses drag on: Opendoor Technologies Inc sheds 7.93% within $1.5 to $1.63 daily range
Opendoor Technologies Inc's bearish run has lasted 11 days so far (-$1.08). more of the same from today's session: after ending yesterday at $1.64, Opendoor Technologies Inc dropped to $1.5 early in today's session and closed at $1.51. In total, it lost 7.93%. Daily trading volume (24.66 million shares) was slightly greater than the current multiday average of 22.40 million.
Opendoor Technologies Inc reported earnings results Thursday; with EPS at -0.6; these results are inconclusive when compared to a consensus of -0.46 Earnings Per Share. Since the release of its earnings report, Opendoor Technologies Inc lost 34.06%.
11 days of a downtrend, losing a total of 34.89%: Marathon Digital Holdings, Inc. loses 3.51%, closes at $9.61 ahead of quarterly report today
Having fallen $4.8 in 11 days, today's session continued the recent downtrend: an influx of sellers pushed Marathon Digital Holdings, Inc. to end the session lower around $9.61, while establishing a $9.33 to $10.63 session range today. Daily trading volume (24.54 million shares) increased, making up 137% of the 21-day average (17.94 million).
Marathon Digital Holdings, Inc. is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is -0.36 and the consensus revenue estimate is $22.11 million.