The main small cap stocks that are plunging: WalkMe Ltd., Similarweb Ltd., Radware Ltd.
Leading equity indices in the US rose as Nasdaq gained 0.71% and closed at 11,079. S&P 500 ended the session at 3,999 after a 0.4% gain.
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.
| WalkMe | 18.07% ($1.58) depreciation over 10 days (15.8 cents per day average)
After setting a $9.04 – $9.63 range, WalkMe Ltd. closed the day 4.58% lower at $9.16. After a mostly steady day, the multinational SaaS company lost 4.58% deep into the session, closing at $9.16. Daily trading volume (108,351 shares) increased, making up 106% of the 21-day average (102,448).
Similarweb continues a 9 day downtrend; stumbles 2.49% Friday
After setting a $5.75 – $6.1 range, Similarweb closed the day 2.49% lower at $5.88. Pronounced bearish market sentiment ensured that the US web analytics company made a notable 2.49% loss Friday, declining 15 cents and ultimately closing at $5.88. The day's trading volume totalled 164,863 shares — slightly under the 21-day average of 174,417.
| Radware | 3.93% (24 cents) depreciation over 4 days (6 cents per day average)
After setting a $19.53 – $20.13 range, Radware closed the day 2.78% lower at $19.56. After ending Thursday at $20.12, Radware declined to $19.53 Friday before closing at $19.56, thereby losing 2.78% in total. Daily trading volume (258,300 shares) increased, making up 152% of the 21-day average (169,581).