Vista Outdoor, Fossil Group Dive into Thursday’s 52-Week Low Club
February 9, 2017 by Paul AusickFebruary 9, 2017: Here are four stocks trading with relatively heavy volume among 35 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners nearly 2 to 1 and on the Nasdaq advancers led decliners by about 5 to 2.
Gilead Sciences Inc. (NASDAQ: GILD) dropped about 2.2% Thursday to post a new 52-week low of $65.38 after closing Wednesday at $66.83. The 52-week high is $103.10. Volume of nearly 19 million was about double the daily average of around 10.4 million shares traded. The company had no specific news Thursday.
Vista Outdoor Inc. (NYSE: VSTO) dropped more than 23% Thursday, to post a new 52-week low of $19.72 after closing at $25.74 on Thursday. The stock’s 52-week high is $53.91. Volume was about 7 times the daily average of around 1.2 million shares. The company missed estimates this morning and cut its outlook. Gunmakers and ammo suppliers like Vista are having a tough go this year.
Fitbit Inc. (NYSE: FIT) dropped about 3.3% on Thursday to record a new 52-week low of $5.62. The stock closed at $5.81 on Wednesday. Volume was about 35% below the daily average of around 11.6 million shares. The company had no news, but the ripples are still spreading from the charges leveled by competitor Jawbone over Fitbit’s theft of trade secrets.
Fossil Group Inc. (NASDAQ: FOSL) dropped about 5.4% Thursday, to post a new 52-week low of $22.78 after closing at $24.07 on Wednesday. The stock’s 52-week high is $51.93. Volume was about 3 times the daily average of around 1.1 million shares. The company had no specific news, but the troubles at Fitbit may be spilling over.
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