Ubiquiti Inc., Cirrus Logic, Inc., Beyond Meat, Inc. and others have been slumping.
Markets completed a mixed session yesterday, as Dow Jones was down 0.66% before closing the session at 33,300. S&P 500 shed 0.17% and closed at 4,130.62.
Current market events are being influenced by ambiguous macro data as United States Producer Price Index improved upon its previous reading of -0.4% with a new data release of 0.2%.
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.
| Ubiquiti | continues a 29 day decline; slides down 1.77% yesterday
After setting a $177.6 – $182.13 range, Ubiquiti Inc. closed the day 1.77% lower at $178.87. Ubiquiti dropped to $177.6, its lowest point in 2 years. It later recovered $1.27 and closed at $178.87. The wireless equipment maker has recovered almost all of its session losses after dipping down to $177.6 yesterday. Daily trading volume (88,300 shares) was slightly greater than the current multiday average of 72,986. Just recently, Ubiquiti's board disclosed a quarterly dividend of 60 cents per share to be paid on Monday, May 22nd for all shareholders of record up until Monday, May 15th. Based on current prices, the company's decision thereby provides Ubiquiti investors with an annual dividend yield of 1.34%.
| Cirrus Logic | 28.55% ($30.63) depreciation over 30 days ($1.02 per day average)
After setting a $77.17 – $78.81 range, Cirrus Logic closed the day 0.82% lower at $78.28. The Texan semiconductor supplier has recovered almost all of its session losses after dipping down to $77.17 yesterday. Trading volume totalled 431,982 which equates to around 64% of the stock's 21-day average yesterday.
Beyond Meat continues an 11 day downtrend; crashes 18.27% yesterday
After setting a $10.11 – $11.9 range, Beyond Meat closed the day 18.27% lower at $10.2. Beyond Meat closed at $10.2 after dropping by 18.27% ($2.28), its largest single-day drop since November 2020. After ending Wednesday at $12.48, Beyond Meat dropped to $10.11 early in yesterday's session and closed at $10.2. In total, it lost 18.27%. Daily trading volume (11.95 million shares) increased, making up 581% of the 21-day average (2 million).