Despite All-Time DJIA High, Noble, Quorum, Schulman, Solar and Many More Hit 52-Week Lows

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The Dow Jones Industrial Average (DJIA) hit another all-time high of 18,631 on Thursday, August 11, 2016. Despite the Dow being very much within striking 20,000, with limited efforts, the rising tide is not lifting all ships. In fact, over 20 companies saw their stocks hit new 52-week lows!

24/7 Wall St. tracks the companies that are managing to hit new 52-week lows. The sad part of this is that their investors might not even know that there is a bull market at all-time highs, nor that the bull market is well over seven years old.

Canadian Solar Inc. (NASDAQ: CSIQ) was last seen trading lower by 1% at $13.03, but the shares hit a 52-week low of $12.88 earlier in the morning. This was on a 52-week low the prior day, and you can blame the pricing action and imminent analyst panic after the SunPower earnings crushed solar stocks on Wednesday. More of the same, with SunPower also hitting 52-week lows yet again.

Flowers Foods Inc. (NYSE: FLO) used to be the routine subject of buyout rumors years ago, but that was then and the now is a world in which baked goods are not universally desirable anymore. Flowers had weak guidance, and the drop of 9% to $14.66 is now down almost half from the 52-week high of $27.31. The low of the day was $14.35, and trading volume of over 10 million shares right after the noon hour was already close to five times normal volume.

Noble Corporation PLC (NYSE: NE) was actually up 2.4% at $6.92 right after the noon hour, but the offshore drilling contractor saw its shares hit a 52-week low of $6.66 before recovering. The 52-week high is $14.64, but trading of 4 million shares right after noon was not representing any serious panic at half a day’s normal trading volume.

Quorum Health Corp. (NYSE: QHC) was down a sharp 51% at $4.85 on almost 4 million shares after the noon hour. It actually hit a low of $4.12, after disappointing earnings and after UBS downgraded its rating to Sell from Neutral. The stock’s 52-week high is $13.52.

A. Schulman Inc. (NASDAQ: SHLM) is having a problem with the plastic compounds and resins market, or so its lower guidance says, by deteriorating market conditions. Schulman shares were last seen trading down over 26% at $21.97, after it hit a low of $19.58. Trading volume of 1.45 million shares is almost seven times normal volume, and its 52-week high is $39.05.

Other key stocks hitting 52-week lows on Thursday were as follows: Air Industries Group, ATN International, Avinger, Collegium Pharma, Energy Focus, Epizyme, Impax Labs, Neos Therapeutics, NII Holdings, Onconova, Par Petroleum, Retractable Tech, Superconductor Tech, Sangamo Bio and many more.