The 52-Week Low Club for Wednesday
ThinkstockAugust 13, 2014: Stocks making new 52-week lows today included the following four firms. Cree Inc. (NASDAQ: CREE) saw shares fall more than 10% to a new 52-week low of $44.11 Wednesday morning after announcing quarterly results after markets closed…
August 13, 2014: Stocks making new 52-week lows today included the following four firms.
Cree Inc. (NASDAQ: CREE) saw shares fall more than 10% to a new 52-week low of $44.11 Wednesday morning after announcing quarterly results after markets closed Tuesday evening. The company’s revenue was on the light side, profits beat estimates by a penny, and the forecast for the current quarter was below consensus.
King Digital Entertainment plc (NYSE: KING) dropped about 25% on Wednesday to post a new 52-week low of $13.65. The stock’s post-IPO high is $23.48. The company’s Candy Crush couldn’t carry the load and the company has lowered its outlook for full-year results. Ouch.
SeaWorld Entertainment Inc. (NYSE: SEAS) dropped about 35% on Wednesday to post a new 52-week low of $18.17. Volume is about 35-times the daily average of about 1.1 million shares traded, and the 52-week high is $35.40. The company badly missed revenue and profit estimates this morning, and the outlook is not encouraging either.
Vivus Inc. (NASDAQ: VVUS) dropped about 5.7% to post a new 52-week low of $4.28 in the late afternoon today. The biopharmaceutical maker had no news today, but shares have lost nearly 52% of their value since January and are down nearly 65% over the past 12 months.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.