NEW YORK, NY / ACCESSWIRE / December 12, 2018 / U.S. equities finished lower on Tuesday after bouncing between the red and green territory. The stocks gained more than 1% across the board on improving U.S.-China trade relations. Bloomberg news reported that China plans on cutting down tariffs on cars made in U.S., from the current 40% to 15%. However, stocks started moving in the opposite direction on the news of a contentious fight between President Donald Trump and Democratic leadership over border security. President Trump’s threat to shut down the government weighed on the markets. The Dow Jones Industrial Average dropped 0.22 percent to close at 24,370.24, while the S&P 500 Index decreased 0.04 percent to close at 2,636.78. The Nasdaq Composite Index gained 0.16 percent to close at 7,031.83.
According to the Chief Market Strategist of Prudential Financial, Quincy Crosby, "It is important for the market to get positive headlines at this time. The algorithms work instantaneously and if we get someone with an opposing view we could turn around."
The Market Edge Initiates Coverage on:
MiMedx Group, Inc.
Tandem Diabetes Care, Inc.
MiMedx Group's stock jumped 21.26% Tuesday, to close the day at $1.54. The stock recorded a trading volume of 2,395,157 shares, which was below its three months average volume of 5,110,544 shares. In the last year, MiMedx Group's shares have traded in a range of 0.95 - 18.25. The share price has gained 62.11% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $3.77 is below its 200-day moving average of $4.83. Shares of the company are trading at a Price to Earnings ratio of 4.95. Shares of MiMedx Group have fallen roughly 45 percent in the past month and are down 87.79 percent year-to-date.
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On Tuesday, shares of Tandem Diabetes Care recorded a trading volume of 1,725,943 shares, which was below the three months average volume of 2,694,521 shares. The stock ended the day 3.61% higher at $36.45. The share price has fallen 30.64% from its 52 week high with a 52 week trading range of 2.14 - 52.55. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $35.14 is above its 200-day moving average of $32.27. Shares of Tandem Diabetes Care have fallen roughly 1.99 percent in the past month and are up 1444.49 percent year-to-date.
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SOURCE: The Market Edge