Upstart Holdings, Inc. and Frontdoor, Inc. and others have been dropping. Here is what you should know.
Leading equity indices in the US declined as S&P 500 was down 1.79% before closing the session at 3,999. Dow Jones lost 1.4% and ended the session at 33,947.
Amid the market gloom, United States ISM Non-Manufacturing PMI (Nov) came out at 56.5, while a consensus of analysts was expecting 53.3.
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.
Stumbles for 15 days: Bearish Upstart Holdings declines $1.35 (7.23%)
More of the same from yesterday's session: after ending Friday at $18.67, Upstart Holdings, Inc. dropped to $17.31 early in yesterday's session and closed at $17.32. In total, it lost 7.23%. Upstart Holdings's downtrend has seen it decline 23.16% in 15 days yesterday's trading volume was 4.14 million shares which is slightly below the 21-day average of 5.83 million.
The company has a market cap of $1.42 billion with an average daily trading volume of 5.83 million shares. The cloud-based AI platform reached a significant high of $194.37 around 11 months ago but has lost 90.39% since then. So far in 2022, it has been under-performing the Nasdaq by 47.02%. Upstart Holdings last reported revenue of $157.23 million with an EPS of -69 cents.
A 6 day downtrend, falling 2.49%: Risk-off mood drags Frontdoor 0.81% lower
Yesterday's session continued down the same path: early in yesterday's session, Frontdoor dropped to $22.4 from $23.33 at the end of Friday, before closing at $23.14. During the session, it lost 0.81%.
Frontdoor's bearish run has lasted 6 days so far (-40 cents). The day's trading volume totalled 577,079 shares — slightly below the 21-day average of 694,449.
The company's market cap is $1.89 billion with an average daily volume of 694,449 shares. A month ago, the home ownership specialist fell to a low of $19.93 but has since recovered 17.06%. Frontdoor's last revenue report was $484 million with an EPS of 56 cents.