February 8, 2016: Here are four stocks trading with heavy volume among 756 equities making new 52-week lows today.
Bank of America Corp. (NYSE: BAC) dropped about 6.3% on Monday to post a new 52-week low at $12.13 after closing at $12.95 on Friday. The stock’s 52-week high is $18.48. Share volume totaled more than 172 million shares compared with the daily average of around 103 million shares traded. The financial sector posted the second-largest drop today, down about 3.5%, but none of the largest banks had an specific news today. Investors just happen to think the sector is a stinker right now.
Chesapeake Energy Corp. (NYSE: CHK) posted a new 52-week low on Monday. Shares traded at a low of $1.50, down about 51%, after closing at $3.06 on Friday. The stock’s 52-week high is $21.20. Volume of about 106 million represented a jump of more than 4 times the daily average of around 25 million shares. Reports that the company had hired a law firm to advise it on a bankruptcy filing sent the shares plunging. The stock regained some of its lost ground after it announced that it had no plans to file for bankruptcy.
Energy Transfer Equity LP (NYSE: ETE) fell by about 40% on Monday to post a new 52-week low of $4.20 against a high of $35.44. The stock closed at $6.98 on Friday night. Volume rose to more than 105 million, more than 4 times the daily average of about 24 million shares traded. The company announced a change in CFOs Friday after markets closed and the reaction this morning was harsh.
Williams Companies Inc (NYSE: WMB) also dropped about 40% on Monday to post a new 52-week low of $10.22 against a 52-week high of $61.38. The stock closed at $17.12 on Friday night. Volume reached about 53 million shares, more than 4 times the stock’s daily average volume of around 15 million. The company is in the process of being acquired by ETE but Williams investors may be losing faith in the $38 billion offering price which had an implied value of around $43.50 per share at the time it was made.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
