Bright Mountain Media, Inc., Nektar Therapeutics, Mullen Automotive, Inc. and others have been dropping. Here is what you should know.
Leading equity indices in the US rose as Nasdaq gained 0.63% and closed at 11,467. S&P 500 closed the day at 3,982.24, having gained 0.31%.
Uptick coincides with some positive signs published earlier as United States Pending Home Sales improved upon its previous reading of 1.1% with a new data release of 8.1%.
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.
Bright Mountain Media continues a 4 day downtrend; drops 33.33% yesterday
After setting a 9.5 cents – 15 cents range, Bright Mountain Media, Inc. closed the day 33.33% lower at 10 cents. During yesterday's session, Bright Mountain Media toiled and struggled for upward momentum before closing at 10 cents. By the close, the the digital media company suffered a 5 cents or 33.33% loss. Daily trading volume (115,009 shares) increased, making up 1,600% of the 21-day average (7,198).
| Nektar Therapeutics | 53.82% ($1.52) depreciation over 4 days (38 cents per day average)
After setting a $1.38 – $1.47 range, Nektar Therapeutics closed the day 6.71% lower at $1.39. The US biopharmaceutical company dropped to its lowest point in 2 months at $1.38. It later recovered 1 cents and trades at $1.39. Grinding lower but with no clear-cut direction, the polymer conjugate technology developer closed the session at $1.39 after forming a distinct $1.38 – $1.47 range. Daily trading volume (4.55 million shares) was higher than the current multiday average of 2.60 million.
| Mullen Automotive | 42.6% (14.64 cents) depreciation over 10 days (1.464 cents per day average)
After setting a 21.57 cents – 23.1 cents range, Mullen Automotive closed the day 6.31% lower at 21.69 cents. Mullen Automotive gains 1.57% in pre-market and trades at 22.03 cents. This comes following a session of losses in which it closed at 21.69 cents after dropping to 21.57 cents for the first time in 2 months and a half. Pronounced bearish sentiment in the market pushed the US automotive and EV manufacturer into a notable 6.31% slide yesterday, falling 1.46 cents and ultimately closing at 21.69 cents. Daily trading volume (177.82 million shares) was slightly greater than the current multiday average of 170.42 million.