CureVac N.V., Sirius XM Holdings Inc, QuantumScape Corporation have been the noticable stocks on a downtrend. Here is what you need to know.
The leading indices are dropping — Dow Jones slipping 1.04% and closing at 33,082. S&P 500 trades at 4,014 after losing 0.85%.
Amid the market gloom, United States Factory Orders released yesterday at 15:00 UTC is better than expected at -1.6% but down from preceding data of 1.7% according to new data.
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.
23 days of losses drag on for CureVac
CureVac N.V. drops 1.63% since opening around $7.67 the German bio-pharma company drops 1.63% in early trade and remains within touching distance of the $7.57 level.
| Sirius XM | maintaining a month downtrend having fallen 31.42%
Sirius XM drops 4.3% since opening around $4.26 after closing the previous day at $4.3, the satellite and online radio company dropped to $4.09, hitting its lowest point in 2 years. It later recovered 2.5 cents and is now trading at $4.12. The American broadcasting company drops 4.3% in early trade and remains within touching distance of the $4.12 level. Based on current prices, Sirius XM shareholders are currently earning an annual dividend yield of 2.35% after the company distributed a quarterly dividend of 2.42 cents per share for all eligible shareholders as of Thursday, February 9th. The most recent payment was made on Friday, February 24th.
| QuantumScape | a $3.06 (-27.32%) fall over 13 days
QuantumScape drops 2% since opening around $8.73 the solid state lithium battery developer is trading close to the $8.61 level today, after ending yesterday at $8.78 and dropping 2%.