Mullen Automotive, Inc., CureVac N.V., Similarweb Ltd. and others have been dropping. Here is what you should know.
The leading indices are currently lower — Dow Jones drawing back 1.13% to 33,527. S&P 500 trades at 3,955.66 after losing 0.88%.
This down-slide takes place while United States macroeconomics indicators data published earlier are pointing downward as well — United States Producer Price Index published today at 13:30 UTC came out at -0.5%, falling short of the -0.1% projections and continuing its decline from the previous 0.2% figure.
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.
4 days of losses drag on for Mullen
Similar trend today: while bearish sentiment is dominating the market, the US automotive and EV manufacturer is maintaining its poise around 28.67 cents while ranging between 28 cents and 31.48 cents so far today. Mullen drops 4.56% since opening around 31 cents
Mullen Automotive's market cap is currently $475.66 million with an average daily volume of 244.25 million shares. The US automotive and EV manufacturer is now trading 91.95% below the significant high of $3.73 it set around 11 months ago. So far in 2022, it has been doing worse than the Nasdaq by 12.94%. The stock has been trending positively for about a month.
CureVac continues a 4 day downtrend; draws back 2.97% this session
CureVac drops 2.97% since opening around $9.42 the RNA therapeutics developer slides down from $9.78 to $9.49, losing 29 cents (2.97%).
| Similarweb | 11.8% decline over 10 days
As things stand, Similarweb is holding steady at $5.68 after kicking off today's session at $5.76. Without a clear-cut direction, Similarweb is trading around $5.68 and ranging between $5.62 and $6.