Oatly Group AB, FIGS, Inc., Beyond Meat, Inc. and others have been slumping.
Leading equity indices in the US rose as Dow Jones gained 2.47% and closed at 31,083. S&P 500 ended the session at 3,752.75 after a 2.37% gain.
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.
28.07% drop, 14 days of losing: Bearish mood pushes Oatly to session low of $2
More of the same from Friday's session: after ending Thursday at $2.11, Oatly Group AB dropped to $2 early in Friday's session and closed at $2.05. In total, it lost 2.84%. Having fallen 74 cents in 14 days, daily trading volume (3.40 million shares) increased, making up 128% of the 21-day average (2.65 million).
The company's market cap is $1.21 billion with an average daily volume of 2.65 million shares. Oatly is now trading 85.11% below the significant high of $14.17 it set around 11 months ago. So far in 2022, it has been doing worse than the Nasdaq by 28.12%. Oatly's last revenue report was $177.96 million with an EPS of -12 cents.
Continuing a 14 day nosedive: FIGS dropped by 0.86% and closed the session at $6.93
FIGS's downtrend has seen it decline 27.28% in 14 days Friday's session continued down the same path: early in Friday's session, FIGS dropped to $6.64 from $7 at the end of Thursday, before closing at $6.93. During the session, it lost 0.86%.
Daily trading volume (5.26 million shares) was above the current multiday average of 3.36 million.
7 days of a downtrend, losing a total of 14.55%: Beyond Meat suffers weak session with 2.09% loss; downside halted at $12.19
Beyond Meat has lost 14.55% over the last 7 days. 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.