The 52-Week Low Club for Tuesday
ThinkstockSeptember 8, 2015: Here are four stocks trading with heavy volume among 38 equities making new 52-week lows today. GoPro Inc.) dropped about 1.2% on Tuesday to post a new 52-week low of $36.38 against a 52-week high of $98.47.…
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September 8, 2015: Here are four stocks trading with heavy volume among 38 equities making new 52-week lows today.
GoPro Inc.) dropped about 1.2% on Tuesday to post a new 52-week low of $36.38 against a 52-week high of $98.47. The stock closed at $36.83 on Friday night. Volume is roughly 40% above the daily average of around 7.5 million shares traded. Analysts at Baird lowered their price target on the stock today.
Media General Inc. (NYSE: MEG) dropped nearly 8% on Tuesday to post a new 52-week low at $10.26 after closing at $11.15 on Friday. The stock’s 52-week high is $18.00. Share volume was more than 6 times the daily average of around 850,000. The TV station owner/operator announced today that it will pay $3 billion for competitor Meredith Corp. Fortune noted that with nearly 5 months remaining in 2015 we have already seen an all-time record of $1.503 trillion in M&A activity this year.
Vince Holding Corp. (NYSE: VNCE) posted a new 52-week low on Tuesday. Shares dropped about 5.5% to a low of $4.95 from Friday’s closing price of $5.24. The stock’s 52-week high is $37.68. Volume totaled about 5 times the daily average of around 600,000. The apparel maker continues to suffer from its lowered profit outlook. Shares fell 42% Friday following the late announcement on Thursday.
Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) dropped about 3.6% on Tuesday to set a new 52-week low of $4.59 after closing at $4.76 on Friday. The stock’s 52-week high is $17.97. Share volume totaled around 1.8 million shares, about 15% above the daily average of around 1.7 million. The company had no specific news today, and actually recovered nicely after being down by 6% at one point. Shares are down just 0.1% on the day shortly before the closing bell.
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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.