The 52-Week Low Club for Monday
Yelp Inc. (NYSE: YELP) dropped about 6.4% on Monday to post a new 52-week low of $42.216 after closing at $45.11 on Friday. The stock’s 52-week high is $101.75. Share volume was about 5-times the daily average of around 2.6 million shares traded. The social media ratings site dropped 22% on Friday after reporting slower growth and the carnage continued today.
Fifth Street Finance Corp. (NASDAQ: FSC)) dropped about 17% on Monday to establish a new 52-week low at $7.05 against a high of $10.20. Volume was more than 8-times the daily average of around 1.3 million shares. The specialty lender to small- and medium-size businesses missed estimates Monday morning and lowered its monthly dividend by about a third.
The AES Corp. (NYSE: AES) posted a new 52-week low on Monday. Shares dropped about 2.2% to $11.81 from Friday’s closing price of $12.07. The stock’s 52-week high is $15.65. Volume is about equal to the daily average of around 6 million shares. The utility company posted a new low last Friday as well, likely on concerns about a potential rise in the cost of capital.
Abercrombie & Fitch Inc. (NYSE: ANF) dropped about 7.5% on Monday to post a new 52-week low of $23.85. The stock’s 52-week high is $45.50. Volume was about 20% higher than the daily average of around 2.8 million shares. The teen apparel store was downgraded at Wunderlich Securities today.