The 52-Week Low Club for Friday
November 6, 2015: Here are four stocks trading with heavy volume among 118 equities making new 52-week lows today.
The Men’s Wearhouse Inc. (NYSE: MW) dropped nearly 47% on Friday to post a new 52-week low of $21.44 against a high of $66.18. The stock closed at $40.10 on Thursday night. Volume was about 25 times the daily average of around 1.1 million shares traded. The company reported earnings Friday morning after issuing a preliminary earnings report that showing sales at the Jos. A. Bank locations down nearly 15%.
Iconix Brand Group Inc. (NASDAQ: ICON) posted a new low on Friday. Shares dropped about 59% to a low of $6.60 from Thursday’s closing price of $16.14. The stock’s 52-week high is $41.03. Volume was more than 20 times the daily average of around 1.3 million shares. The brand management firm released preliminary Q3 results this morning and cutting guidance. The company also said it would be restating financial results from fiscal years 2013, 2014, and 2015.
Kinder Morgan Inc. (NYSE: KMI) dropped about 2.7% on Friday to post a new 52-week low of $25.20 against a 52-week high of $44.71. The stock closed at $25.91 on Thursday night. Volume was about 15% higher than the daily average of around 17 million shares traded. The oil & gas midstream giant had no specific news today, or yesterday either for that matter, when it set another new yearly low.
Groupon Inc. (NASDAQ: GRPN) dropped more than 8% on Friday to post a new 52-week low at $2.67 after closing at $2.91 on Thursday. The stock’s 52-week high is $8.43. Share volume was nearly double the daily average of around 10 million. The online coupon company continues reeling from Tuesday’s weak Q3 earnings report, a weak Q4 and 2016 outlook, and the impact of replacing its CEO.