The main stocks that are plunging: First Republic Bank, PacWest Bancorp, CureVac N.V.
The leading indices are showing gains — Nasdaq up to 11,643, gaining 1.83%. S&P 500 up to 3,938.53, gaining 1.2%.
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.
| First Republic Bank | 79.14% fall over 7 days
First Republic Bank drops 17.52% since opening around $20.22 First Republic Bank is down to $25.7, after ending yesterday at $31.16. Overall, a 17.52% loss or $5.46 today. Current trading volume stands at 85.50 million; 798% above the 21-day average of 10.72 million. First Republic Bank distributed a dividend of 27 cents per share on Thursday, February 9th for all shareholders on record up until Thursday, January 26th. Based on current prices, the decision means shareholders are receiving an annualised dividend yield of 4.2%.
PacWest Bancorp drops 11.43% since opening around $9.88 PacWest Bancorp is down to $10.07, after ending yesterday at $11.37. Overall, a 11.43% loss or $1.3 today. As things stand, trading volume is at 35 million, above the 21-day average of 6.90 million. Just recently, PacWest Bancorp's board disclosed a quarterly dividend of 25 cents per share and subsequently paid on Tuesday, February 28th for all shareholders of record up until Wednesday, February 15th. The company's decision thereby provides PacWest Bancorp investors with an annualised dividend yield of 9.93% (based on current prices).
| CureVac | a $4.79 (-41.43%) fall over 28 days
CureVac drops 1.36% since opening around $6.9 CureVac is down to $6.91, after ending yesterday at $seven. Overall, a 1.36% loss or 9.5 cents today.