Farfetch Limited, Mullen Automotive, Inc., Sibanye Stillwater Limited and others have been slumping.
Leading equity indices in the US declined as after dropping 2.06%, Dow Jones closed at 33,130. S&P 500 was down 2% before closing the session at 3,997.34.
While price action maintains a negative bias, United States Existing Home Sales (Jan) came out at 4 million, while a consensus of analysts was expecting 4 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.
| Farfetch Limited | continues a 13 day decline; stumbles 4.65% yesterday
More of the same from yesterday's session: early in yesterday's session, Farfetch Limited dropped to $4.87 from $5.16 at the end of Friday, before closing at $4.92. During the session, it lost 4.65%.
After setting a $4.87 – $5.11 range, Farfetch Limited closed the day 4.65% lower at $4.92. Daily trading volume (14.49 million shares) increased, making up 103% of the 21-day average (14 million).
The British-Portuguese luxury fashion distributor's market cap currently stands at $1.88 billion with an average daily trading volume of 14 million shares. 11 months ago the British-Portuguese luxury fashion distributor reached a significant high of $20.92 but has consequently lost 75.33% since then. So far this year, it has been outperforming the Nasdaq by 1.59%.
Farfetch Limited is scheduled to announce earnings results tomorrow. The consensus EPS estimate is -0.42 and the consensus revenue estimate is $625.36 million.
| Mullen Automotive | 32.6% (10.89 cents) depreciation over 6 days (1.815 cents per day average)
More of the same from yesterday's session: after ending Friday at 26.9 cents, Mullen declined to 24.5 cents yesterday before closing at 25.47 cents, thereby losing 5.32% in total. After setting a 24.5 cents – 26.9 cents range, Mullen closed the day 5.32% lower at 25.47 cents. Trading volume totalled 176.42 million which equates to around 97% of the stock's 21-day average yesterday.
Currently, the US automotive and EV manufacturer has a market capitalization of $445 million with an average daily volume of 181.42 million shares. The US automotive and EV manufacturer has fallen back around 91.87% over the past 11 months, from a notable high of $3.31. So far this year, it has been under-performing the Nasdaq by 29.27%. The stock has been trending positively for about 2 months.
D/B/A Sibanye-Stillwater continues a 25 day downtrend; drops 6.55% yesterday
After setting a $8.52 – $8.75 range, D/B/A Sibanye-Stillwater closed the day 6.55% lower at $8.71. Early in yesterday's session, D/B/A Sibanye-Stillwater dropped to $8.52 from $9.32 at the end of Friday, before closing at $8.71. During the session, it lost 6.55%.
Daily trading volume (7.87 million shares) was higher than the current multiday average of 3 million.