The 3 down-trending stocks that met bullish equities sentiment yesterday

Churchill Downs Incorporated, Virgin Galactic Holdings, Inc., HEXO Corp. and others have been dropping. Here is what you should know.

Markets closed higher yesterday; Nasdaq gained 2.19% and closed at 12,976. S&P 500 closed the day at 4,205.45, having gained 1.3%.

Meanwhile, data from United States concerning Core Durable Goods Orders was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0.3% to -0.2% this month.

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.

| Churchill Downs Incorporated | 53.56% ($156.42) depreciation over 16 days ($9.78 per day average)

After setting a $137.46 – $141.15 range, Churchill Downs Incorporated closed the day 1.62% lower at $137.57. An influx of sellers pushed the horse track and gambling operator to session lows around $137.46 while establishing a $137.46 to $141.15 session range yesterday. Daily trading volume (355,668 shares) was higher than the current multiday average of 239,449.

| Virgin Galactic | 31.44% (88 cents) depreciation over 4 days (22 cents per day average)

After setting a $3.31 – $4 range, Virgin Galactic closed the day 16.54% lower at $3.38. Virgin Galactic traded at $3.38 after making its biggest single-day drop of 67 cents (16.54%) since Apr 4. 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%.
Daily trading volume (28.42 million shares) was above the current multiday average of 10.66 million.

| HEXO Corp. | continues an 8 day decline; drops 12.82% yesterday

After setting a 98 cents – $1.04 range, HEXO Corp. closed the day 12.82% lower at $1.02. After ending Thursday at $1.17, HEXO Corp. declined to 98 cents yesterday before closing at $1.02, thereby losing 12.82% in total. Daily trading volume (493,411 shares) was above the current multiday average of 297,801.