Investing

Coty, Community Health Crash into Wednesday's 52-Week Low Club

November 9, 2016: Here are four stocks trading with relatively heavy volume among 149 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq advancers led decliners by more than 2 to 1.

Community Health Systems Inc. (NYSE: CYH) lost about 30% Wednesday to post a new 52-week low of $4.15 after closing Tuesday at $5.94. The 52-week high is $25.32. Volume of around 31 million was about 5 times daily average of around 6.1 million shares traded. The hospital stocks took a beating following Tuesday’s election based on the new administration’s promise to repeal Obamacare. With majorities in both houses of Congress and a president not named Obama, this looks like a sure thing to investors.

Coty Inc. (NYSE: COTY) dropped nearly 16% on Wednesday to post a new 52-week low of $18.48 after closing at $21.89 on Tuesday. The stock’s 52-week high is $31.60. Volume was nearly double the daily average of around 12 million shares. The cosmetics giant missed estimates this morning.

Tenet Healthcare Corp. (NYSE: THC) dropped about 28% on Wednesday to post a new 52-week low of $14.55 against a 52-week high of $35.35. Volume of about 15.4 million was more than 6 times the daily average of around 2.4 million. The stock closed at $20.27 on Tuesday night. Another hospital stock hammered by election results.

Infosys Ltd. (NYSE: INFY) dropped nearly 6% on Wednesday to post a new 52-week low of $14.27 after closing at $15.16 on Tuesday. The stock’s 52-week high is $20.47. Volume of nearly 15 million was about 3 times the daily average of around 4.8 million shares. The company had no specific news.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.