The main small cap stocks that are plunging: Trulieve Cannabis Corp., GrowGeneration Corp., Farfetch Limited
Leading equity indices in the US rose as Dow Jones closed the day at 34,000, having gained 1.58%. S&P 500 gained 1.43% and closed at 3,990.56.
More data out yesterday as United States Federal Budget Balance (Nov) released yesterday at 19:00 UTC with a figure of -249 billion, while the previous figure was -88 billion.
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 33.02%: Trulieve Cannabis closed at $10 after losing 11% yesterday
Having fallen $3.7 in 6 days, more of the same from yesterday's session: an influx of sellers pushed the medical and recreational cannabis provider to session lows around $9.95 while establishing a $9.95 to $11.36 session range yesterday. Daily trading volume (341,475 shares) increased, making up 102% of the 21-day average (333,538).
A 6 day downtrend, falling 29.58%: GrowGeneration dropped by 4.69% and closed the session at $5.69
Yesterday's session continued down the same path: pronounced bearish sentiment in the market pushed the organic gardening store operator into a notable 4.69% slide yesterday, falling 28 cents and ultimately closing at $5.69. GrowGeneration's bearish run has lasted 6 days so far (-$2.11). The day's trading volume totalled 2 million shares — slightly below the 21-day average of 3 million.
GrowGeneration's market cap currently stands at $346.69 million with an average daily trading volume of 3 million shares. The retail hydroponic company is up 98.34% from the significant low of $3 it hit a month ago. $70.85 million was GrowGeneration's last reported revenue with -12 cents being the current EPS.
Continuing a 7 day nosedive: Yesterday's lacklustre sentiment ensured Farfetch Limited slid 2.2%
Farfetch Limited's downtrend has seen it decline 25.71% in 7 days yesterday's session continued the recent downtrend: grinding lower but with no clear-cut direction, the online luxury fashion retail platform closed the session at $4.45 after forming a distinct $4.31 – $4.55 range. Yesterday's trading volume was 17.68 million shares which is slightly below the 21-day average of 20.53 million.