Marathon Digital Holdings, Inc., Carvana Co., Oatly Group AB have been the noticable small cap stocks on a downtrend. Here is what you need to know.
Leading equity indices in the US declined as S&P 500 closed at 3,946.56, a 0.31% change. Nasdaq shed 0.35% and closed at 11,145.
Meanwhile, United States Philadelphia Fed Manufacturing Index (Nov) came out at -19.4, while a consensus of analysts was expecting -6.2.
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.
Decreases for 17 days: $7.91 is Marathon Digital Holdings, Inc.'s lowest value in 4 months
Having fallen $6.45 in 17 days, more of the same from yesterday's session: Marathon Digital Holdings, Inc. has almost recovered all its losses from a previous close of $8.31 after dipping down to $7.91 yesterday. Yesterday's trading volume was 16.52 million shares which is slightly below the 21-day average of 19.23 million.
4 days of losses drag on: Carvana Co. ended the session at $8.32 (-2.69%)
Over the last 4 days, Carvana Co. has fallen 29.97%. yesterday's session continued down the same path: grinding lower but with no clear-cut direction, Carvana Co. closed the session at $8.32 after forming a distinct $7.9 – $8.48 range. Yesterday's trading volume was 15.90 million shares which is slightly below the 21-day average of 23.66 million.
23.27% drop, 4 days of losing: Yesterday's slide leaves Oatly traders hoping for a bounce
Having fallen 51 cents in 4 days, yesterday's session continued the recent downtrend: an influx of sellers pushed Oatly to end the session lower around $1.88, while establishing a $1.86 to $1.95 session range yesterday. Daily trading volume (5.46 million shares) was higher than the current multiday average of 3.57 million.