Largest Negative Opening Gaps for PMM

How does PMM usually behave after a large gap-down move?

Using the 12 largest gap-down moves over the last 3 years in PMM stock, the average move was -1.1% with the single largest opening gap of -1.4% occurring on 12-Feb-2025. Following the opening, PMM tended to drift higher to the closing price 67% of the time for an average gain of +0.2%. The following day, PMM stock price averaged -0.1% losses, with down moves exceeding up moves. The stock was down 58% of the time in that period one day after these significant gaps.

Catalysts

1 of PMM's 12 largest moves corresponded with a large gap down in the overall market. 3 of the moves coincided with a company-issued press release.

Open-to-High and Open-to-Low

The largest percentage gain from the open to the high of the day was +1.7% on 8-Jun-2023, while the biggest drop from the open to the low was -1.6% on 29-Dec-2023. On average, the PMM stock price gain from the opening price to the highest point of the day was +0.9%, and the average drop to the lowest point was -0.5%.

Day Drift Open-to-Close

The best performance in PMM stock price from opening price to closing price (referred to as the "drift" for the day) was on 8-Jun-2023 for a +1.6% gain after the stock gapped down -1.2% at the open. The worst worst return from the opening price to the closing price was on 24-May-2023 when the stock lost -1.2% after the stock gapped down -0.9%. Overall in the 12 available observations, the stock drifted higher 67% of the time for an average gain of +0.2%.