Mullen Automotive, Inc., Beyond Meat, Inc., TuSimple Holdings Inc. and others have been slumping.
Leading equity indices in the US declined as Dow Jones closed at 33,045, a 0.76% change. S&P 500 slipped 0.76% and closed at 3,899.
On the flip side, data for United States Crude Oil Inventories released yesterday at 16:00 UTC is better than expected with 8.41 million, but worse than previous figure of 18.96 million.
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.
| Mullen Automotive | continues a 6 day decline; descends 2.64% yesterday
After setting a 25.38 cents – 27.9 cents range, Mullen Automotive, Inc. closed the day 2.64% lower at 27.31 cents. The automotive industry company has recovered almost all of its session losses after dipping down to 25.38 cents yesterday. Trading volume totalled 181.43 million which equates to around 84% of the stock's 21-day average yesterday.
Beyond Meat continues a 5 day downtrend; decreases 2.19% yesterday
After setting a $13.97 – $14.48 range, Beyond Meat closed the day 2.19% lower at $14.26. The LA-based meat substitute company has recovered almost all of its session losses after dipping down to $13.97 yesterday. The day's trading volume totalled 1.58 million shares — slightly below the 21-day average of 1.98 million.
| TuSimple Holdings | 11.87% (13 cents) depreciation over 4 days (3.25 cents per day average)
After setting a $1.9 – $2.06 range, TuSimple Holdings closed the day 6.31% lower at $1.93. After ending Wednesday at $2.06, TuSimple Holdings dropped to $1.9 early in yesterday's session and closed at $1.93. In total, it lost 6.31%. Yesterday's trading volume was 1.79 million shares which is under the 21-day average of 3 million.