HEXO Corp., Foresight Autonomous Holdings Ltd., Canopy Growth Corporation and others have been slumping.
Leading equity indices in the US rose as Nasdaq gained 2% and closed at 12,166. Dow Jones closed the day at 34,030, having gained 1.14%.
Meanwhile, highly important Core Retail Sales data from United States beat analyst expectations of -0.3% with a reading of -0.8%.
What is a downtrend?
The perceived tendency of a price to move in a downward direction over time. A downtrend describes the price movement of a continously depreciative financial asset over a particular time frame. In a downtrend, each successive low and peak is lower than the ones found earlier in the trend. The downtrend is therefore composed of lower swing lows and lower swing highs.
| HEXO Corp. | continues a 4 day decline; decreases 5.08% yesterday
After setting a $1.11 – $1.18 range, HEXO Corp. closed the day 5.08% lower at $1.12. An influx of sellers pushed the high-quality cannabis producer to end the session lower around $1.12, while establishing a $1.11 to $1.18 session range yesterday. Yesterday's trading volume was 894,461 shares which is slightly below the 21-day average of 997,558.
Foresight Autonomous continues a 17 day downtrend; draws back 4.44% yesterday
Yesterday's session continued the recent downtrend: early in yesterday's session, Foresight Autonomous dropped to 33.41 cents from 36 cents at the end of Wednesday, before closing at 34.4 cents. During the session, it lost 4.44%.
After setting a 33.41 cents – 36.97 cents range, Foresight Autonomous closed the day 4.44% lower at 34.4 cents. Daily trading volume (292,716 shares) increased, making up 171% of the 21-day average (171,342).
The company is currently trading with a market cap of $25.39 million with an average daily volume of 171,342 shares. Foresight Autonomous hit a significant low of 34.4 cents around a day ago, but has since recovered 4.65%. Pointing downwards for around 2 months. Foresight Autonomous is forecasted to generate revenues of $250,000 and EPS of -5 cents.
| Canopy Growth | 23.35% (45 cents) depreciation over 17 days (2.6471 cents per day average)
Yesterday's session continued down the same path: the cannabis producer has recovered almost all of its session losses after dipping down to $1.51 yesterday. After setting a $1.51 – $1.56 range, Canopy Growth closed the day 0.66% lower at $1.51. Trading volume totalled 4.61 million which equates to around 83% of the stock's 21-day average yesterday.
The Canadian cannabis supplier's market cap currently stands at $774 million with an average daily trading volume of 5.55 million shares. Canopy Growth has shed $5.6 points and is languishing 78.65% lower over the past year, leaving its yearly highs around $7.11 in the rear-view mirror. So far this year, it has been under-performing the Nasdaq by 49.4%. Trending downwards for around 2 months. Canopy Growth's last revenue report was $113,349 with an EPS of -35 cents.
