The 52-Week Low Club for Monday
January 4, 2016: Here are four stocks trading with heavy volume among 210 equities making new 52-week lows today.
Banco Bradesco SA (NYSE: BBD) dropped about 3.1% on Monday to post a new 52-week low of $4.66 against a 52-week high of $14.21. The stock closed at $4.81 on Thursday night. Volume reached about 24 million shares, roughly 35% above the stock’s daily average volume. The Brazil-based bank was hit by a falling Brazilian currency and a diving stock market.
Ambev SA (NYSE: ABV) dropped about 5.4% on Monday to post a new 52-week low at $4.22 after closing at $4.46 on Thursday. The stock’s 52-week high is $6.83. Share volume was roughly equal to the daily average of around 19 million shares traded. The Brazilian beverage maker had no specific news today, but the falling real certainly had an impact on the company’s share price today.
Fiat Chrysler Automobiles NV (NYSE: FCAU) fell more than 37% on Monday to post a new 52-week low of $8.76 against a high of $17.08. The stock closed at $13.99 on Thursday night. Volume rose to around 10 million, nearly double the daily average of around 5.4 million shares traded. The automaker’s spinoff of Ferrari was completed today with an offering on the Milan exchange. Fiat Chrysler’s remaining 80% stake in Ferrari has now all been distributed to shareholders.
The Gap Inc. (NYSE: GPS) posted a new low on Monday. Shares dropped about 2.5% to a low of $23.86 from Thursday’s closing price of $24.47. The stock’s 52-week high is $43.90. Volume was about 30% higher than the daily average of around 5.7 million shares. The early news on retail sales for December is not encouraging, and Gap has been having its problems even without the warm weather.