Lyft, Inc., Affirm Holdings, Inc., Upstart Holdings, Inc. and others have been dropping. Here is what you should know.
Markets completed a mixed session Friday while Dow Jones gained 0.5% and closed at 33,869. Nasdaq shed 0.61% and closed at 11,718.
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.
| Lyft | 42.5% ($1.71) depreciation over 4 days (42.75 cents per day average)
After setting a $10.23 – $11.22 range, Lyft, Inc. closed the day 36.44% lower at $10.31. After ending Thursday at $16.22, Lyft dropped to $10.23 early in Friday's session and closed at $10.31. In total, it lost 36.44%. Daily trading volume (146 million shares) was higher than the current multiday average of 22 million.
Affirm continues a 7 day downtrend; dips 5.79% Friday
After setting a $12.36 – $13.44 range, Affirm closed the day 5.79% lower at $12.52. Pronounced bearish sentiment in the market pushed the fintech company into a notable 5.79% slide Friday, falling 77 cents and ultimately closing at $12.52. Trading volume totalled 22.71 million which equates to around 95% of the stock's 21-day average Friday. The company reported earnings of -1.1 per share Wednesday, falling short of expectations of -1.01. Revenue was also lower than expected at $399.56 million versus $416.27 million. Since the release of its earnings report, Affirm lost 27.25%
The company reported earnings of -1.1 per share and revenue at $399.56 million. Since the release of its earnings report Wednesday, Affirm lost 27.25%.
| Upstart Holdings | continues a 7 day decline; decreases 1.33% Friday
After setting a $15.75 – $16.65 range, Upstart Holdings closed the day 1.33% lower at $16.31. The day's trading volume totalled 5.92 million shares — slightly under the 21-day average of 7.87 million. Upstart Holdings is scheduled to announce earnings results tomorrow. The consensus Earnings Per Share estimate is -0.98 and the consensus revenue estimate is $134.34 million.
Upstart Holdings is scheduled to announce earnings results tomorrow. The consensus EPS estimate is -0.98 and the consensus revenue estimate is $134.34 million.