Oatly Group AB, Iovance Biotherapeutics, Inc., BridgeBio Pharma, Inc. and others have been slumping.
Leading equity indices in the US declined as Dow Jones shed 1.45% and closed at 33,849. S&P 500 slipped 1.54% and closed at 3,964.
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.
10 days of losses drag on: Bearish mood pushes Oatly to session low of $1.58
Oatly Group AB's downtrend has seen it decline 35.51% in 10 days today's session continued down the same path: grinding lower but with no clear-cut direction, the Swedish food company closed the session at $1.58 after forming a distinct $1.58 – $1.66 range. Today's trading volume was 2.77 million shares which is below the 21-day average of 4.23 million.
Slumps for 10 days: Iovance Biotherapeutics ended the session at $5.95 (-3.72%)
Iovance Biotherapeutics's bearish run has lasted 10 days so far (-$2.7). today's session continued the recent downtrend: an influx of sellers pushed the Californian biopharmaceutical startup to end the session lower around $5.95, while establishing a $5.93 to $6.22 session range today. The day's trading volume totalled 3.32 million shares — slightly below the 21-day average of 3.42 million.
10 days of a downtrend, losing a total of 28.7%: Bearish mood pushes BridgeBio Pharma to session low of $8
More of the same from today's session: an influx of sellers pushed the biotech developer to end the session lower around $8.1, while establishing a $8 to $8.68 session range today. BridgeBio Pharma's bearish run has lasted 10 days so far (-$2.78). Today's trading volume was 962,810 shares which is slightly below the 21-day average of 1.22 million.
The company's market cap is $1.21 billion with an average daily trading volume of 1.22 million shares. The clinical-stage biotechnology company reached a significant high of $42.65 around 11 months ago but has lost 79.88% since then. So far in 2022, it has been doing worse than the Nasdaq by 8.97%. $338,000 was BridgeBio Pharma's last reported revenue with -93 cents being the current EPS.