The 52-Week Low Club for Wednesday
Twitter Inc. (NYSE: TWTR) dropped nearly 15% on Wednesday to post a new 52-week low of $31.21 after closing at $36.54 on Tuesday. The stock’s 52-week high is $55.99. Share volume totaled around nearly 80 million shares, nearly four times the daily average of around 22 million. The company reported lower user growth than expected after markets closed on Tuesday, and that’s the only metric that counts for the high-flying social media company.
Yelp Inc. (NYSE: YELP) posted a new 52-week low on Wednesday. Shares (dropped about 29% to a low of $23.66 from Tuesday’s closing price of $33.51. The stock’s 52-week high is $86.88. Volume totaled around 31 million shares, more than six times the daily average of around 4.7 million. The company cut guidance after a poor quarter.
Range Resources Corp. (NYSE: RRC) dropped about 7.5% on Wednesday to post a new 52-week low at $40.65 after closing at $43.95 on Tuesday. The stock’s 52-week high is $79.38. Share volume totaled about 8.4 million, more than double the daily average of about 3.5 million. The company missed profit estimates when it reported second quarter results this morning.
Potash Corp. of Saskatchewan Inc. (NYSE: POT) dropped about 2.5% on Wednesday to post a new 52-week low of $26.63 against a 52-week high of $37.60. The stock closed at $27.32 on Tuesday night. Volume totaled about 6 million shares, about 50% higher than the daily average of around 4.3 million shares traded. The company had no specific news today, but reports results tomorrow. Ag product makers have been weak this quarter and there’s not much reason for investors to believe that Potash Corp. will be an exception.