Statistics of Price Movements of Marcus & Millichap (MMI)

The price movements of Marcus & Millichap (ticker MMI) are summarized in five ways:

• Table 1. Statistics of daily price changes using the closing prices
• Table 2. Statistics of daily price changes using the closing and opening prices
• Table 3 – 7. Statistics of daily price changes when MMI opened with an increase of 1%, 2%, 3%, 4%, or more than 5%
• Table 8 – 10. Statistics of stock price changes in the 20 days after MMI had a big price move
• Table 11. Statistics of daily price changes in the 20 days after MMI moved 5% with twice the 30-day average volume

The statistics are calculated using MMI's price data across 1,549 trading days from 2015 to 2020.

Table 1. Statistics of MMI one-day price changes

In this table, the one-day price change is calculated using the closing price and the previous day's closing price.

In the past 1,549 trading days, 49.2% of the time (762 days), MMI closed above the previous day's closing price. 46.6% of the time (721 days), it closed below the previous day's closing price. 4.2% of the time (65 days), it did not change.

Also see: VIX price movement study.

MMI Price Change (%)	Number of Days	% of Total Sessions
28 – 29%	1	0.06%
16 – 17%	1	0.06%
9 – 10%	2	0.13%
8 – 9%	2	0.13%
7 – 8%	6	0.39%
6 – 7%	4	0.26%
5 – 6%	15	0.97%
4 – 5%	18	1.16%
3 – 4%	36	2.33%
2 – 3%	88	5.68%
1 – 2%	234	15.12%
0 – 1%	355	22.93%
0%	65	4.20%
0 – -1%	366	23.64%
-1 – -2%	183	11.82%
-2 – -3%	78	5.04%
-3 – -4%	43	2.78%
-4 – -5%	23	1.49%
-5 – -6%	10	0.65%
-6 – -7%	6	0.39%
-7 – -8%	2	0.13%
-8 – -9%	3	0.19%
-9 – -10%	2	0.13%
-11 – -12%	2	0.13%
-14 – -15%	1	0.06%
-18 – -19%	1	0.06%
-24 – -25%	1	0.06%

Table 2. Statistics of MMI: Closing vs. Open

In this table, instead of using the closing price of the previous day, the opening price is used to calculate the one-day price change of MMI.

48.0% of the time (743 days), MMI closed above the opening price. 47.6% of the time (738 days), it closed below the opening price. 4.4% of the time (68 days), it closed where it started.

Closing - Open (%)	Number of Days	% of Total Sessions
25 – 26%	1	0.06%
14 – 15%	1	0.06%
10 – 11%	1	0.06%
7 – 8%	1	0.06%
6 – 7%	6	0.39%
5 – 6%	10	0.65%
4 – 5%	13	0.84%
3 – 4%	40	2.58%
2 – 3%	87	5.62%
1 – 2%	205	13.23%
0 – 1%	378	24.40%
0%	68	4.39%
0 – -1%	378	24.40%
-1 – -2%	210	13.56%
-2 – -3%	82	5.29%
-3 – -4%	42	2.71%
-4 – -5%	14	0.90%
-5 – -6%	2	0.13%
-6 – -7%	2	0.13%
-7 – -8%	2	0.13%
-8 – -9%	1	0.06%
-9 – -10%	2	0.13%
-10 – -11%	1	0.06%
-11 – -12%	1	0.06%
-13 – -14%	1	0.06%

Table 3. One-day performance when MMI opened 5% higher than previous close

In the past 1,549 trading days, MMI opened more than 5% higher than the previous day's closing price 7 times. Of these days, 57.1% (4 days) had closing prices above the opening price, and 42.9% (3 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
10 – 11%	1	14.29%
3 – 4%	2	28.57%
0 – 1%	1	14.29%
-1 – -2%	1	14.29%
-2 – -3%	1	14.29%
-3 – -4%	1	14.29%

Table 4. Closing vs. open when MMI opened 4–5% higher

On 3 days, MMI opened 4–5% higher than the previous day's closing price. Of these days, 33.3% (1 days) had closing prices above the opening price, and 66.7% (2 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
2 – 3%	1	33.33%
-1 – -2%	1	33.33%
-2 – -3%	1	33.33%

Table 5. Closing vs. open when MMI open 3 – 4% higher

9 times MMI opened 3 – 4% higher than the previous day's closing price. Among these days, 44.4% (4 days) closed above the opening price, 55.6% (5 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
6 – 7%	1	11.11%
2 – 3%	1	11.11%
1 – 2%	2	22.22%
0 – -1%	1	11.11%
-1 – -2%	2	22.22%
-2 – -3%	1	11.11%
-4 – -5%	1	11.11%

Table 6. Closing vs. open when MMI open 2 – 3% higher

14 times MMI opened 2 – 3% higher than the previous day's closing price. Among these days, 71.4% (10 days) closed above the opening price, 28.6% (4 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
25 – 26%	1	7.14%
5 – 6%	1	7.14%
4 – 5%	2	14.29%
2 – 3%	2	14.29%
1 – 2%	1	7.14%
0 – 1%	3	21.43%
0 – -1%	2	14.29%
-1 – -2%	1	7.14%
-2 – -3%	1	7.14%

Table 7. Closing vs. open when MMI open 1 – 2% higher

68 times MMI opened 1 – 2% higher than the previous day's closing price. Among these days, 52.9% (36 days) closed above the opening price, 47.1% (32 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
6 – 7%	1	1.47%
4 – 5%	2	2.94%
3 – 4%	2	2.94%
2 – 3%	5	7.35%
1 – 2%	8	11.76%
0 – 1%	18	26.47%
0 – -1%	11	16.18%
-1 – -2%	11	16.18%
-2 – -3%	6	8.82%
-3 – -4%	3	4.41%
-4 – -5%	1	1.47%

Table 8. Periods when MMI moved 15% or more

In this table, we track the price movements in the 20 days after MMI had a one-day price change of at least 15%.

Date	Price Change	Price Change after 15% Move
Days after:		1	4	7	10	13	16	19
20200317	28.4%	-9.7	-12.7	3.4	-6.5	-10.9	2.3	1.6
20150508	16.2%	-3.5	2.6	6.3	6.8	7.4	14.4	13.7
20200316	-18.4%	28.5	6.0	23.3	27.0	12.8	30.1	27.2
20151106	-24.8%	1.6	1.2	6.9	5.0	12.3	6.8	2.7

Table 8a. MMI average price changes following a 15% up day

Of the 1,549 trading days from 2015 to 2020, there were 2 days in which MMI was up more than 15%. This table shows the average price changes over the 2 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 15%	-6.6	-5.1	4.9	.2	-1.8	8.4	7.6

Table 8b. MMI average price changes following a 15% down day

Of the 1,549 trading days from 2015 to 2020, there were 2 days in which MMI was down more than -15%. This table shows the average price changes over the 2 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -15%	15.0	3.6	15.1	16.0	12.6	18.4	15.0

Table 9. Periods when MMI moved 10% or more

In this table, we track the price movements in the 20 days after MMI had a one-day price change of at least 10%.

Date	Price Change	Price Change after 10% Move
Days after:		1	4	7	10	13	16	19
20200317	28.4%	-9.7	-12.7	3.4	-6.5	-10.9	2.3	1.6
20150508	16.2%	-3.5	2.6	6.3	6.8	7.4	14.4	13.7
20151026	-11%	.8	3.8	3.6	-25.6	-25.9	-21.8	-23.2
20200320	-11.7%	5.7	25.3	13.3	7.9	23.9	23.0	24.5
20190508	-14.3%	-2.7	-6.9	-9.2	-10.0	-10.3	-15.0	-16.8
20200316	-18.4%	28.5	6.0	23.3	27.0	12.8	30.1	27.2
20151106	-24.8%	1.6	1.2	6.9	5.0	12.3	6.8	2.7

Table 9a. MMI average price changes following a 10% up day

Of the 1,549 trading days from 2015 to 2020, there were 2 days in which MMI was up more than 10%. This table shows the average price changes over the 2 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 10%	-6.6	-5.1	4.9	.2	-1.8	8.4	7.6

Table 9b. MMI average price changes following a 10% down day

Of the 1,549 trading days from 2015 to 2020, there were 5 days in which MMI was down more than -10%. This table shows the average price changes over the 5 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -10%	6.8	5.9	7.6	.8	2.6	4.6	2.9

Table 10. Periods when MMI moved 5% or more

In this table, we track the price movements in the 20 days after MMI had a one-day price change of at least 5%.

Date	Price Change	Price Change after 5% Move
Days after:		1	4	7	10	13	16	19
20200317	28.4%	-9.7	-12.7	3.4	-6.5	-10.9	2.3	1.6
20150508	16.2%	-3.5	2.6	6.3	6.8	7.4	14.4	13.7
20201109	9.8%	-1.3	-.9	-1.6	.3	2.8	3.0	4.4
20190807	9.6%	3.0	4.1	4.9	2.5	.0	4.5	4.1
20200313	8.8%	-18.4	-2.0	-.5	7.5	-8.5	-.9	3.8
20200324	8.8%	1.1	4.1	-7.5	6.6	4.3	6.7	1.5
20150108	7.7%	.0	.1	-2.2	-1.3	1.6	-1.2	3.6
20200326	7.7%	-.9	-15.5	-8.6	-4.3	-.1	-1.1	-12.1
20180309	7.6%	.6	.6	-.3	-2.0	.1	.2	-1.3
20160506	7.5%	-1.1	-4.7	-7.6	-6.9	-3.4	-4.6	-3.0
20181031	7.5%	1.8	1.1	7.7	6.6	5.6	4.5	6.4
20200407	7.1%	1.0	.3	1.5	-8.6	-5.9	2.2	-9.2
20150810	6.9%	-1.5	-8.1	-8.2	-19.3	-18.2	-22.5	-21.2
20150309	6.3%	-2.5	-12.3	-11.0	-5.5	-2.1	.3	.2
20200603	6.2%	.7	4.0	-4.3	-2.1	-2.7	-7.0	-5.0
20200406	6.1%	7.1	4.7	7.2	2.0	.9	4.4	-1.2
20150630	5.9%	-1.9	-.7	.4	3.0	2.4	9.0	7.4
20200514	5.9%	1.9	7.1	6.8	10.7	12.7	24.6	19.0
20160606	5.7%	1.2	-1.0	-2.2	-2.7	-2.3	-9.1	-6.1
20200323	5.7%	8.8	17.5	.1	8.3	13.4	18.3	17.2
20151123	5.6%	1.4	-1.8	-4.0	-7.2	-8.3	-12.8	-12.9
20160805	5.5%	-.5	-1.0	-2.5	-6.4	-5.3	-7.5	-7.8
20180509	5.5%	-1.0	.9	.8	1.2	1.7	.6	2.6
20160222	5.4%	1.7	7.8	10.5	15.2	15.4	13.4	17.6
20171108	5.4%	-.4	.2	-.3	.9	3.2	4.5	2.0
20200518	5.4%	-4.0	-.7	4.4	1.9	12.2	15.8	6.6
20200508	5.3%	-4.3	-11.2	-8.4	-5.2	-.3	-2.7	7.1
20160321	5.1%	-2.1	-4.2	-2.7	-4.3	-8.5	-6.8	-3.8
20150226	5%	-4.2	-2.9	-3.0	-11.6	-13.3	-10.2	-8.2
20161109	5%	1.0	.2	4.0	7.0	8.9	7.1	12.1
20181107	5%	.0	.6	.2	-1.7	.5	-1.7	-5.4
20150130	-5.1%	3.9	6.9	10.8	12.5	12.7	14.1	12.5
20160624	-5.1%	-3.1	1.7	-1.4	4.0	10.9	9.9	9.9
20200921	-5.2%	-1.1	1.6	4.5	9.2	16.1	18.0	18.3
20200331	-5.3%	-6.6	1.1	5.9	10.4	9.4	-2.8	4.6
20161115	-5.5%	.2	3.9	6.8	9.7	7.5	13.2	12.8
20200611	-5.5%	1.9	4.3	3.7	-.9	1.2	.5	-4.2
20160205	-5.6%	-1.5	-10.5	-8.2	-6.4	2.5	5.0	8.4
20200311	-5.7%	-6.7	6.4	-12.2	2.1	5.2	-6.5	7.8
20200420	-5.7%	-3.9	-1.1	7.4	-4.6	-2.9	-11.7	-7.5
20151105	-5.9%	-24.9	-22.6	-21.2	-21.7	-15.5	-18.2	-20.0
20200225	-6.4%	1.7	-2.9	-8.3	-13.1	-16.9	-21.3	-24.0
20200305	-6.5%	.9	-10.7	-26.0	-11.1	-9.7	-2.6	-17.0
20200401	-6.6%	.6	16.0	13.4	16.0	10.4	9.2	13.0
20200312	-6.7%	8.9	3.0	-.4	18.0	6.7	1.6	16.7
20200501	-6.7%	-1.6	.1	-8.9	-4.5	.3	.0	3.7
20150824	-6.8%	-2.3	1.7	-.5	-2.4	1.5	5.6	8.3
20191108	-7.5%	2.8	3.7	6.2	4.4	9.1	7.9	9.3
20150224	-7.6%	1.6	4.8	2.0	.9	-9.2	-7.9	-2.2
20150812	-8.1%	-1.0	2.7	-4.2	-10.9	-11.3	-9.4	-11.4
20150430	-8.3%	3.3	3.1	16.3	23.6	28.1	28.7	29.4
20200309	-8.7%	3.0	-1.5	-6.8	-9.9	6.8	-3.5	-8.1
20200318	-9.6%	3.6	5.2	13.5	-3.3	4.7	9.6	14.4
20200512	-9.7%	-2.9	10.6	10.0	12.3	11.8	23.2	32.3
20151026	-11%	.8	3.8	3.6	-25.6	-25.9	-21.8	-23.2
20200320	-11.7%	5.7	25.3	13.3	7.9	23.9	23.0	24.5
20190508	-14.3%	-2.7	-6.9	-9.2	-10.0	-10.3	-15.0	-16.8
20200316	-18.4%	28.5	6.0	23.3	27.0	12.8	30.1	27.2
20151106	-24.8%	1.6	1.2	6.9	5.0	12.3	6.8	2.7

Table 10a. MMI average price changes following a 5% up day

Of the 1,549 trading days from 2015 to 2020, there were 31 days in which MMI was up more than 5%. This table shows the average price changes over the 31 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 5%	-.8	-.8	-.5	-.5	.1	1.5	1.1

Table 10b. MMI average price changes following a 5% down day

Of the 1,549 trading days from 2015 to 2020, there were 28 days in which MMI was down more than -5%. This table shows the average price changes over the 28 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -5%	.4	2.0	1.4	1.4	3.3	3.1	4.3

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Also see: VIX price movement study.