Arrival, Bright Mountain Media, Inc., OrganiGram Holdings Inc. and others have been slumping.
Markets did not have a clear cut direction — Nasdaq closed 12,072 after a stable day. Dow Jones closed at 33,800 after a flat day.
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.
| Arrival | continues a 5 day decline; tumbles 20.33% Friday
After setting a $2.37 – $3.03 range, Arrival closed the day 20.33% lower at $2.39. After ending Thursday at $three, Arrival declined to $2.37 Friday before closing at $2.39, thereby losing 20.33% in total. Trading volume totalled 1.44 million which equates to around 11% of the stock's 21-day average Friday.
| Bright Mountain Media | 36.25% (2.98 cents) depreciation over 6 days (0.4967 cents per day average)
Friday's session continued down the same path: during Friday's session, Bright Mountain Media toiled and struggled for upward momentum before closing at 7 cents. By the close, the the digital advertising specialist suffered a 1 cents or 12.5% loss. After setting a 7 cents – 10 cents range, Bright Mountain Media closed the day 12.5% lower at 7 cents. Friday's trading volume was 8,500 shares which is slightly below the 21-day average of 10,048.
Currently, the digital advertising specialist has a market capitalization of $10.47 million with an average daily volume of 10,048 shares. The digital media company traded as high as 65 cents before shedding 82.61% lower over the past six months. Pointing downwards for around a month.
OrganiGram Holdings continues a 10 day downtrend; slips 3.16% Friday
After setting a 49.45 cents – 52.75 cents range, OrganiGram Holdings closed the day 3.16% lower at 50 cents. An influx of sellers pushed the medicinal cannabis specialist to end the session lower around 50 cents, while establishing a 49.45 cents to 52.75 cents session range Friday. Friday's trading volume was 855,178 shares which is slightly below the 21-day average of 925,677.