The main small cap stocks that are plunging: Oatly Group AB, FIGS, Inc., GoodRx Holdings, Inc.
Leading equity indices in the US rose as S&P 500 ended the session at 3,678 after a 2.65% gain. Nasdaq gained 3.43% and closed at 10,676.
More data out yesterday as United States NY Empire State Manufacturing Index (Oct) released yesterday at 12:30 UTC with a figure of -9.1, while the previous figure was -1.5.
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.
Descends for 10 days and losing 21.4%, Bearish mood pushes Oatly to session low of $2.23
Oatly Group AB has lost 21.4% over the last 10 days. yesterday's session continued down the same path: slightly down but mostly flat: Oatly ranged between $2.23 and $2.32 before closing at $2.24. Daily trading volume (3.17 million shares) increased, making up 108% of the 21-day average (2.93 million).
A 10 day downtrend, falling 21%: Yesterday's lacklustre sentiment ensured FIGS slid 1.05%
More of the same from yesterday's session: FIGS has almost recovered all its losses from a previous close of $7.61 after dipping down to $7.47 yesterday. Having fallen $1.92 in 10 days, daily trading volume (3.60 million shares) increased, making up 109% of the 21-day average (3.31 million).
The company's market cap is $1.25 billion with an average daily trading volume of 3.31 million shares. FIGS is now trading 82.23% below the significant high of $42.82 it set around 11 months ago. FIGS's last revenue report was $122.25 million with an EPS of 3 cents.
A 10 day downtrend, falling 10.9%: Yesterday's slide leaves GoodRx traders hoping for a bounce
Yesterday's session continued the recent downtrend: GoodRx has almost recovered all its losses from a previous close of $4.75 after dipping down to $4.62 yesterday. GoodRx's downtrend has seen it decline 10.9% in 10 days daily trading volume (2.25 million shares) increased, making up 121% of the 21-day average (1.85 million).
The company has a market cap of $1.89 billion with an average daily volume of 1.85 million shares. Approximately 11 months ago, GoodRx reached a significant high of $47.16 but has struggled to hold onto its gains and declined 89.93% since then. So far in 2022, it has been doing worse than the Nasdaq by 35.41%. $191.8 million was GoodRx's last reported revenue with 6 cents being the current EPS.