Trulieve Cannabis Corp., Canopy Growth Corporation, GrowGeneration Corp. and others have been dropping. Here is what you should know.
Leading equity indices in the US declined as S&P 500 slipped 0.61% and closed at 3,995.32. Nasdaq closed at 11,171, a 0.76% change.
Meanwhile, United States Interest Rate came out at 4.5, while a consensus of analysts was expecting 4.5.
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.
7 days of losses drag on: Yesterday's slide leaves Trulieve Cannabis traders hoping for a bounce
Trulieve Cannabis Corp.'s bearish run has lasted 7 days so far (-$5.64). yesterday's session continued down the same path: pronounced bearish market sentiment ensured that the medical and recreational cannabis provider made a notable 3.61% loss yesterday, declining 31.62 cents and ultimately closing at $9. Daily trading volume (399,597 shares) was slightly above the current multiday average of 334,717.
Stumbles for 7 days and losing 34.26%, Canopy Growth dropped by 2.41% and closed the session at $2.84
Canopy Growth's bearish run has lasted 7 days so far (-$1.41). yesterday's session continued the recent downtrend: the Canadian cannabis supplier has recovered almost all of its session losses after dipping down to $2.76 yesterday. Yesterday's trading volume was 11.83 million shares which is slightly below the 21-day average of 16.10 million.
7 days of losses drag on: Bearish mood pushes GrowGeneration to session low of $5.53
Having fallen $2.29 in 7 days, more of the same from yesterday's session: an influx of sellers pushed the organic gardening store operator to end the session lower around $5.57, while establishing a $5.53 to $5.87 session range yesterday. The day's trading volume totalled 1.56 million shares — below the 21-day average of 2.96 million.