Marathon Digital Holdings, Inc., Carvana Co., Iovance Biotherapeutics, Inc. and others have been slumping.
Leading equity indices in the US rose as Dow Jones ended the session at 33,746 after a 0.59% gain. S&P 500 gained 0.48% and closed at 3,965.34.
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.
Stumbles for 19 days: Marathon Digital Holdings, Inc. closed at $7.47 after losing 6.97% Friday
Marathon Digital Holdings, Inc. has lost 49.39% over the last 19 days. more of the same from Friday's session: early in Friday's session, Marathon Digital Holdings, Inc. dropped to $7.45 from $8.03 at the end of Thursday, before closing at $7.47. During the session, it lost 6.97%.
Daily trading volume (23.13 million shares) was slightly greater than the current multiday average of 19.96 million.
Draws back for 6 days and losing 32.15%, Carvana Co. ended the session at $8.06 (-3.12%)
Carvana Co.'s bearish run has lasted 6 days so far (-$3.56). Friday's session continued the recent downtrend: an influx of sellers pushed Carvana Co. to end the session lower around $8.06, while establishing a $7.61 to $8.64 session range Friday. Friday's trading volume was 22.34 million shares which is slightly under the 21-day average of 23.66 million.
Dips for 6 days and shedding 25.45%: Risk-off mood drags Iovance Biotherapeutics 6.76% lower
Friday's session continued down the same path: early in Friday's session, Iovance Biotherapeutics dropped to $5.43 from $7.1 at the end of Thursday, before closing at $6.62. During the session, it lost 6.76%.
Having fallen $1.78 in 6 days, daily trading volume (12.35 million shares) increased, making up 406% of the 21-day average (3 million).
Iovance Biotherapeutics has a market cap of $1 billion with an average daily volume of 3 million shares. Iovance Biotherapeutics is now trading 43.11% below its 3-month high of $20.16. Pointing downwards for around 3 months.