Alteryx, Inc., Fastly, Inc., Concentrix Corporation and others have been dropping. Here is what you should know.
The leading indices are showing gains — Dow Jones goes up 1.45%, trading at 33,600. S&P 500 up 1.73%, trading at 4,131.42.
Uptick coincides with some positive signs published earlier as highly important Average Hourly Earnings data from United States beat analyst expectations of 0.3% with a reading of 0.5%.
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.
| Alteryx | maintaining a 6 day downtrend having fallen 30.62%
As things stand, Alteryx, Inc. is holding steady at $35.4 after kicking off today's session at $35.98. Without a clear-cut direction, Alteryx is trading around $35.4 and ranging between $35.38 and $36.72.
13 days of losses drag on for Fastly
Fastly drops 1.59% since opening around $12 after ending yesterday at $11.66, the cloud platform dropped 18.87 cents to $11.64 today — reaching its lowest point in 2 months. Slightly weaker but mostly flat: Fastly is currently trading at $11.66 as it maintains an active range between $11.64 and $12.26. Fastly reported ambiguous earnings results Wednesday, with revenue at $117.56 million, compared to a consensus of $116 million. Since the release of its earnings report, Fastly lost 17.82%.
Fastly reported inconclusive earnings results Wednesday, with revenue at $117.56 million, compared to a consensus of $116 million. Since the release of its earnings report, Fastly lost 17.82%.
| Concentrix | 29.29% decline over 26 days
Concentrix drops 0.47% since opening around $87.81 after dipping as low as $85.47, the IT service management company is recovering ground lost since the previous session close ($86.51); currently trading at $86.1. Just recently, Concentrix's board disclosed a quarterly dividend of 27.5 cents per share to be paid on Tuesday, May 9th for all shareholders of record up until Friday, April 28th. Based on current prices, the company's decision thereby provides Concentrix investors with an annual dividend yield of 1.28%.