TuSimple Holdings Inc., Marathon Digital Holdings, Inc., Opendoor Technologies Inc. and others have been slumping.
Markets had an interesting day yesterday; Dow Jones ended the session at 32,827 after a 1.31% gain. S&P 500 gained 0.96% and closed at 3,806.8.
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.
6 days of a downtrend, losing a total of 60.7%: TuSimple Holdings lost 3.88% yesterday, closed at $2.48
TuSimple Holdings Inc.'s downtrend has seen it decline 60.7% in 6 days more of the same from yesterday's session: despite the risk-off mood, TuSimple Holdings was range-bound between $2.44 to $2.58 and settled at $2.48. Daily trading volume (7.18 million shares) was higher than the current multiday average of 4.80 million.
Continuing a 9 day nosedive: Marathon Digital Holdings, Inc. loses 3.14%, closes at $10.5 ahead of quarterly report tomorrow
Marathon Digital Holdings, Inc.'s bearish run has lasted 9 days so far (-$3.92). yesterday's session continued the recent downtrend: yesterday's trading volume was 14.18 million shares which is slightly under the 21-day average of 16.90 million.
Marathon Digital Holdings, Inc. is scheduled to announce earnings results tomorrow. The consensus EPS estimate is -0.36 and the consensus revenue estimate is $22.11 million.
36.21% drop, 9 days of losing: Opendoor Technologies Inc closed at $1.73 after losing 14.11% yesterday
Yesterday's session continued down the same path: early in yesterday's session, Opendoor Technologies Inc dropped to $1.73 from $2.02 at the end of Friday, before closing at $1.73. During the session, it lost 14.11%.
Opendoor Technologies Inc has lost 36.21% over the last 9 days. Daily trading volume (33.51 million shares) was higher than the current multiday average of 20.16 million.
Opendoor Technologies Inc's market cap is currently $1.10 billion with an average daily trading volume of 20.16 million shares. Opendoor Technologies Inc reached a significant high of $23.14 around 11 months ago but has lost 91.27% since then. So far in 2022, it has been under-performing the Nasdaq by 36.31%.
Opendoor Technologies Inc reported ambiguous earnings results Thursday, with revenue at $3.36 billion, compared to a consensus of $2.64 billion. Since the release of its earnings report, Opendoor Technologies Inc lost 24.24%.