Oatly Group AB, FIGS, Inc., Beyond Meat, Inc. have been the noticable small cap stocks on a downtrend. Here is what you need to know.
Leading equity indices in the US rose as Dow Jones closed the day at 31,083, having gained 2.47%. S&P 500 gained 2.37% and closed at 3,752.75.
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.
A 14 day downtrend, falling 28.07%: Friday's slide leaves Oatly traders hoping for a bounce
Oatly Group AB has lost 28.07% over the last 14 days. more of the same from Friday's session: after ending Thursday at $2.11, Oatly declined to $2 Friday before closing at $2.05, thereby losing 2.84% in total. Daily trading volume (3.40 million shares) increased, making up 128% of the 21-day average (2.65 million).
14 days of a downtrend, losing a total of 27.28%: Bearish FIGS declines 7 cents (0.86%)
Having fallen $2.54 in 14 days, Friday's session continued down the same path: after ending Thursday at $7, FIGS dropped to $6.64 early in Friday's session and closed at $6.93. In total, it lost 0.86%. Daily trading volume (5.26 million shares) increased, making up 157% of the 21-day average (3.36 million).
14.55% drop, 7 days of losing: Beyond Meat suffers weak session with 2.09% loss; downside halted at $12.19
Beyond Meat's bearish run has lasted 7 days so far (-$1.88). Friday's session continued the recent downtrend: Beyond Meat has almost recovered all its losses from a previous close of $12.9 after dipping down to $12.19 Friday. Daily trading volume (3.62 million shares) was slightly above the current multiday average of 3.28 million.