The 52-Week Low Club for Monday
November 16, 2015: Here are four stocks trading with heavy volume among 216 equities making new 52-week lows today.
Vipshop Holdings Ltd. (NYSE: VIPS) dropped about 11.6% on Monday to post a new 52-week low of $12.02 against a high of $30.72. The stock closed at $13.60 on Friday night. Volume was more than 7 times the daily average of around 9.4 million shares traded. The China-based online retailer lowered its profit expectations last Friday and blamed warmer weather in China for the slowdown. Another online retailer, JD.com, reported earnings this morning that were inline with expectations and also forecast a better-than-expected fourth quarter.
Chesapeake Energy Corp. (NYSE CHK) posted a new low on Monday. Shares dropped about 1.6% to a low of $6.00 from Friday’s closing price of $6.10. The stock’s 52-week high is $24.43. Volume was 5% below the daily average of nearly 19 million shares. The oil and gas producer had no specific news today.
Vale SA (NYSE: VALE) dropped about 2.3% on Monday to post a new 52-week low of $3.89 against a 52-week high of $9.55. The stock closed at $3.97 on Friday night. Volume was about half the daily average of around 26 million shares traded. The iron ore producer had no specific news today.
Macy’s Inc. (NYSE: M) dropped more than 3% on Monday to post a new 52-week low at $37.87 after closing at $39.10 on Friday. The stock’s 52-week high is $73.61. Share volume was about a third higher than the daily average of around 6.1 million. The venerable retailer’s price target was lowered at Argus.