Farfetch Limited, Mullen Automotive, Inc., SuperCom Ltd. and others have been dropping. Here is what you should know.
Markets completed a mixed session Friday, as Nasdaq shed 0.58% and closed at 11,800. Dow Jones gained 0.39% and closed at 33,827.
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.
Farfetch Limited continues a 12 day downtrend; descends 3% Friday
After setting a $5.07 – $5.3 range, Farfetch Limited closed the day 3% lower at $5.16. After ending Thursday at $5.32, Farfetch Limited dropped to $5.07 early in Friday's session and closed at $5.16. In total, it lost 3%. Trading volume totalled 11.70 million which equates to around 84% of the stock's 21-day average Friday. Farfetch Limited is scheduled to announce earnings results Thursday. The consensus EPS estimate is -0.42 and the consensus revenue estimate is $625.36 million.
Farfetch Limited is scheduled to announce earnings results Thursday. The consensus Earnings Per Share estimate is -0.42 and the consensus revenue estimate is $625.36 million.
| Mullen Automotive | continues a 5 day decline; dips 7.75% Friday
More of the same from Friday's session: pronounced bearish sentiment in the market pushed the US automotive and EV manufacturer into a notable 7.75% slide Friday, falling 2.26 cents and ultimately closing at 26.9 cents. After setting a 25.52 cents – 31.25 cents range, Mullen closed the day 7.75% lower at 26.9 cents. Daily trading volume (260.93 million shares) increased, making up 144% of the 21-day average (181.73 million).
Currently, the US automotive and EV manufacturer has a market capitalization of $470.00 million with an average daily trading volume of 181.73 million shares. The US automotive and EV manufacturer has fallen back around 91.19% over the past 10 months, from a notable high of $3.31. So far this year, it has been under-performing the Nasdaq by 27.07%. The stock has been trending positively for about 2 months.
| SuperCom | continues a 10 day decline; retreats 0.56% Friday
After setting a $1.9 – $2.07 range, SuperCom closed the day 0.56% lower at $1.98. The integrated solutions provider has recovered almost all of its session losses after dipping down to $1.9 Friday. Friday's trading volume was 29,336 shares which is below the 21-day average of 60,667.