The 52-Week Low Club for Monday
ThinkstockAugust 18, 2014: Stocks making new 52-week lows today included the following four firms: Fabrinet (NYSE: FN) saw shares fall more than 18% to a new 52-week low of $13.57 after announcing Monday morning that the company will postpone filing…
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August 18, 2014: Stocks making new 52-week lows today included the following four firms:
Fabrinet (NYSE: FN) saw shares fall more than 18% to a new 52-week low of $13.57 after announcing Monday morning that the company will postpone filing its fourth-quarter and full-year financial results pending an investigation into its accounting practices. The stock’s 52-week high is $22.67 and volume is more than double the daily average of just 253,000 shares traded.
Mitek Systems Inc. (NASDAQ: MITK) dropped more than 17% on Monday to post a new 52-week low of $2.15. The stock’s 52-week high is $7.11. Mitek has recently had certain patent infringement claims it filed against USAA dismissed by the federal court. The company’s chief technical officer also resigned recently. Volume today is about 10-times the daily average of around 277,000.
Elizabeth Arden Inc. (NASDAQ: RDEN) dropped more than 3% on Monday to post a new 52-week low of $19.50. Volume is about equal to the daily average of around 445,000 shares traded, and the stock’s 52-week high is $40.40. The beauty products maker has been slumping since a South Korean firm said it is no longer interested in acquiring Arden.
Trupanion Inc. (NYSE: TRUP) dropped nearly 4% to hit a new post-IPO low of $8.70 today. The pet insurer had no news today, and the post-IPO high on the stock is $11.95.
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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.