Asana, Inc., Opendoor Technologies Inc., Upstart Holdings, Inc. are at the top of this list of down trending small cap stocks.
Leading equity indices in the US declined as after dropping 1.44%, S&P 500 closed at 3,941.26. Nasdaq shed 2% and closed at 11,000.
Meanwhile, United States API Weekly Crude Oil Stock came out at -6.43 million, while a consensus of analysts was expecting -3.88 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.
5 days of losses drag on: Asana depreciates 6.18% with $13.14 as the low of the day
Having fallen $3.76 in 5 days, yesterday's session continued down the same path: after ending Monday at $14.4, Asana declined to $13.14 yesterday before closing at $13.51, thereby losing 6.18% in total. Daily trading volume (6.39 million shares) was higher than the current multiday average of 4.43 million.
Continuing a 4 day nosedive: Yesterday's slide leaves Opendoor Technologies Inc traders hoping for a bounce
Having fallen 32 cents in 4 days, more of the same from yesterday's session: an influx of sellers pushed the online residential real estate company to session lows around $1.4 while establishing a $1.4 to $1.6 session range yesterday. Yesterday's trading volume was 13.81 million shares which is lower than the 21-day average of 24.69 million.
A 17 day downtrend, falling 24%: Upstart Holdings sheds 1.1% within $16.42 to $17.48 daily range
Yesterday's session continued the recent downtrend: early in yesterday's session, Upstart Holdings dropped to $16.42 from $17.32 at the end of Monday, before closing at $17.13. During the session, it lost 1.1%.
Upstart Holdings's bearish run has lasted 17 days so far (-$5.22). The day's trading volume totalled 4.70 million shares — slightly below the 21-day average of 5.64 million.
The company has a market cap of $1.40 billion with an average daily trading volume of 5.64 million shares. 11 months ago the cloud-based AI platform reached a significant high of $194.37 but has consequently lost 91.09% since then. So far in 2022, it has been doing worse than the Nasdaq by 45.18%. Upstart Holdings last reported revenue of $157.23 million with an EPS of -69 cents.