Novavax, Inc., Iovance Biotherapeutics, Inc., NeoGames S.A. are at the top of this list of down trending small cap stocks.
Markets completed a mixed session yesterday while Dow Jones gained 0.45% and closed at 34,347. Nasdaq slipped 0.52% and closed at 11,226.
What is a downtrend?
A trend is the overall direction of a market or an asset's trading price over a certain period. A downtrend is when the price is generally pointing downwards; there can be certain periods of time when the price increases, yet the trend remains in a downward direction.
Continuing a 10 day nosedive: Novavax suffers weak session with 2.88% loss; downside halted at $16.32
Novavax, Inc. has lost 33.95% over the last 10 days. yesterday's session continued down the same path: pronounced bearish sentiment in the market pushed the US biotechnology company into a notable 2.88% slide yesterday, falling 49 cents and ultimately closing at $16.54. Yesterday's trading volume was 2.11 million shares which is under the 21-day average of 4.27 million.
10 days of losses drag on: Yesterday's slide leaves Iovance Biotherapeutics traders hoping for a bounce
Iovance Biotherapeutics's downtrend has seen it decline 30.41% in 10 days more of the same from yesterday's session: grinding lower but with no clear-cut direction, the Californian biopharmaceutical startup closed the session at $6.18 after forming a distinct $6.05 – $6.29 range. Yesterday's trading volume was 1.38 million shares which is below the 21-day average of 3.42 million.
A 7 day downtrend, falling 26.59%: NeoGames sheds 3.74% within $13 to $13.8 daily range
Over the last 7 days, NeoGames has fallen 26.59%. yesterday's session continued the recent downtrend: early in yesterday's session, NeoGames dropped to $13 from $13.91 at the end of Wednesday, before closing at $13.39. During the session, it lost 3.74%.
Yesterday's trading volume was 56,250 shares which is lower than the 21-day average of 142,291.