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- 1 DISH stock price experienced quite good trading volume on Friday with the active bulls dominance.
- 2 The rise in its trading volume took its price to rise nearly by 10% in just one day.
DISH Network (NASDAQ: DISH) stock showed little drop in its Monday pre-market session, with the loss of almost $0.34. According to a statement from S&P on late Friday, DISH Network will replace Cutera (CUTR) in the S&P SmallCap 600. On the other hand, Palo Alto Networks (NASDAQ: PANW) will replace DISH in the S&P 500.
This would be effective prior to the opening of trade on June 20th to coincide with the quarterly rebalancing of the S&P Dow Jones Indices. The stock price of Palo Alto jumped nearly 5.1%, while the DISH stock was nearly down 7% in premarket activity Monday.
DISH Stock Price Analysis
The price of DISH stock closed on its previous trading session on June 2nd, Friday, at $7.30. It opened at the trading price of $6.92, noted high at $7.86, while low was at $6.85.
Last week, the stock noted over 10% of increase in its price, while in one month the increase was nearly just 4%. The year-to-date (YTD) price analysis shows that the stock declined by 48%, which is not a positive signal from its investors.
As shown in the above chart, the pre-market price of the stock shows little price decline and is resting at $6.94. As per its previous day performance, the stock price reached its 50-day EMA as it started rising upside from its 20-day moving average.
The massive volume surge as seen in the chart took its price to move upside. However, earlier last week, the stock also tried to move up, but the dominance of bears didn’t work for it. And when the stock moved upwards, the RSI also started following an upside track.
Earlier in May, DISH Network Corporation released its earnings and quarterly report which was not positive even though the stock of the company noted little price rise as compared to its previous prices before the recent report.
The Financial Highlights
DISH earnings for Q1 2023 are $0.35 whereas the estimation was $0.35 which accounts for -1.06% surprise. The revenue for the same period amounts to $3.96 Billion despite the estimated figure of $4.06 Billion. The estimated EPS for the next quarter are $0.35, and revenue is expected to reach $3.93 Billion.
The total revenue of the company for Q1 2023 is $3.96 Billion, and it’s 2.14% lower compared to the previous quarter. The net income of Q1 23 is $222.71 Million.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
