The main small cap stocks that are plunging: Novavax, Inc., Nektar Therapeutics, GoodRx Holdings, Inc.
Leading equity indices in the US rose as S&P 500 ended the session at 4,080 after a 3.09% gain. Nasdaq closed the day at 11,468, having gained 4.41%.
On the other hand, United States Crude Oil Inventories fell short of the -2.76 million projections, with new data of -12.58 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.
Continuing a 12 day nosedive: Risk-off sentiment pushes Novavax to 2.02% loss yesterday
Having fallen $8.21 in 12 days, more of the same from yesterday's session: after ending Tuesday at $16.83, Novavax dropped to $15.56 early in yesterday's session and closed at $16.49. In total, it lost 2.02%. Daily trading volume (6.68 million shares) increased, making up 150% of the 21-day average (4.45 million).
Continuing a 12 day nosedive: Nektar Therapeutics hit a 14 years low as it dropped to $2.75
Over the last 12 days, Nektar Therapeutics has fallen 34.58%. yesterday's session continued down the same path: the polymer conjugate technology developer has almost recovered all its losses from a previous close of $2.91 after dipping down to $2.75 yesterday. Daily trading volume (4.89 million shares) was above the current multiday average of 1.18 million.
4 days of losses drag on: GoodRx ended the session at $4.36 (-1.8%)
Having fallen 33 cents in 4 days, yesterday's session continued the recent downtrend: an influx of sellers pushed the US healthcare company to end the session lower around $4.36, while establishing a $4.32 to $4.5 session range yesterday. Daily trading volume (4.16 million shares) increased, making up 212% of the 21-day average (1.96 million).