Discover the 3 stocks that struggled despite yesterday's risk-on mood

Published: May 27 2023, 01:07 GMT+0

Discover the 3 stocks that struggled despite yesterday's risk-on mood

Markets closed higher yet Tilray, Inc., Virgin Galactic Holdings, Inc., Mullen Automotive, Inc. top this unflattering list of yesterday's losers

After yesterday's closing bell, markets were up yesterday; Nasdaq ended the session at 12,976 after a 2.19% gain. S&P 500 closed the day at 4,205.45, having gained 1.3%.

Today's rally takes place amid mixed market indicators — Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%.

Despite yesterday's market climb several stocks suffered losses. Take a look at the market's Top Losers.

Virgin Galactic | Closed 67 cents (-16.54%) lower at $3.38

Having fallen 88 cents in 4 days, Yesterday's session continued down the same path: early in yesterday's session, Virgin Galactic dropped to $3.31 from $4.05 at the end of Thursday, before closing at $3.38. During the session, it lost 16.54%.

Tilray | Closed yesterday's session at $1.86

Having fallen 17 cents in 5 days, Yesterday's session continued the recent downtrend: after ending Thursday at $2.36, Tilray dropped to $1.82 early in yesterday's session and closed at $1.86. In total, it lost 21.19%.

Mullen Automotive | Currently down 15.21% at 80.81 cents

The automotive industry company is now trading 52.93% below the significant high of $2.02 it set around 25 days ago. So far this year, it has been beating the Nasdaq by 83.92%. Mullen is currently trading with a market cap of $139.41 million with an average daily trading volume of 85 million shares. Mullen Automotive has a forecast of $37.3 million with an EPS of $4.