Marathon Digital Holdings, Inc., Novavax, Inc., Cresco Labs Inc. and others have been slumping.
Leading equity indices in the US declined as Nasdaq was down 1.96% before closing the session at 11,400. S&P 500 slipped 1.3% and closed at 4,017.77.
What is a downtrend?
The perceived tendency of a price to move in a downward direction over time. A downtrend describes the price movement of a continously depreciative financial asset over a particular time frame. In a downtrend, each successive low and peak is lower than the ones found earlier in the trend. The downtrend is therefore composed of lower swing lows and lower swing highs.
| Marathon Digital Holdings, Inc. | 20.33% (98 cents) depreciation over 5 days (19.6 cents per day average)
After setting a $7.09 – $8.17 range, Marathon Digital Holdings, Inc. closed the day 10.6% lower at $7.17. Early in yesterday's session, Marathon Digital Holdings, Inc. dropped to $7.09 from $8 at the end of Friday, before closing at $7.17. During the session, it lost 10.6%.
The day's trading volume totalled 36.46 million shares — slightly under the 21-day average of 37.85 million.
Novavax continues an 8 day downtrend; dips 5.67% yesterday
After setting a $10.45 – $11.25 range, Novavax closed the day 5.67% lower at $10.65. After ending Friday at $11.29, Novavax declined to $10.45 yesterday before closing at $10.65, thereby losing 5.67% in total. Daily trading volume (7.44 million shares) increased, making up 105% of the 21-day average (7.12 million).
| Cresco Labs | 14.78% (25.5 cents) depreciation over 8 days (3.1875 cents per day average)
After setting a $1.65 – $1.83 range, Cresco Labs closed the day 2.54% lower at $1.73. After ending Friday at $1.77, Cresco Labs declined to $1.65 yesterday before closing at $1.73, thereby losing 2.54% in total. Daily trading volume (818,896 shares) was above the current multiday average of 580,835.