Carvana Co., Similarweb Ltd., Iovance Biotherapeutics, Inc. and others have been dropping. Here is what you should know.
Leading equity indices in the US rose as Dow Jones gained 1.18% and closed at 34,100. S&P 500 ended the session at 4,003.58 after a 1.36% gain.
More data out yesterday as United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -4.8 million, while the previous figure was -5.83 million.
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.
Retreats for 7 days: Bearish Carvana Co. declines 25 cents (3.55%)
Carvana Co.'s bearish run has lasted 7 days so far (-$4.83). yesterday's session continued the recent downtrend: pronounced bearish market sentiment ensured that the used car dealer made a notable 3.55% loss yesterday, declining 25 cents and ultimately closing at $6.8. The day's trading volume totalled 12.70 million shares — under the 21-day average of 23.84 million.
A 5 day downtrend, falling 31.02%: Bearish Similarweb declines 7 cents (1.51%)
Having fallen $2 in 5 days, yesterday's session continued down the same path: grinding lower but with no clear-cut direction, the US web analytics company closed the session at $4.58 after forming a distinct $4.4 – $4.63 range. Daily trading volume (293,675 shares) was above the current multiday average of 174,706.
29.28% drop, 7 days of losing: Bearish mood pushes Iovance Biotherapeutics to session low of $6.11
Having fallen $2.39 in 7 days, more of the same from yesterday's session: pronounced bearish sentiment in the market pushed the Californian biopharmaceutical startup into a notable 3.24% slide yesterday, falling 21 cents and ultimately closing at $6.28. Daily trading volume (4 million shares) increased, making up 124% of the 21-day average (3.23 million).