January 5, 2016: Here are four stocks trading with heavy volume among 128 equities making new 52-week lows today.
Fitbit Inc. (NYSE: FIT) dropped about 14% on Tuesday to post a new 52-week low at $25.52 after closing at $29.76 on Monday. The stock’s 52-week high is $51.90. Share volume was more than 4 times the daily average of around 5.1 million shares traded. The fitness wristband maker introduced a new smartwatch to compete with the Apple Watch and other brands. Investors see this as a loser obviously.
Banco Bradesco SA (NYSE: BBD) dropped about 2.1% on Tuesday to post a new 52-week low of $4.64 against a 52-week high of $14.21. The stock closed at $4.74 on Monday night. Volume reached about 10 million shares, roughly 40% below the stock’s daily average volume. The Brazil-based bank had no specific news today.
American Express Co. (NYSE: AXP) fell about 2.8% on Tuesday to post a new 52-week low of $65.67 against a high of $91.81. The stock closed at $67.59 on Monday night. Volume rose to more than 8 million, about 25% higher than the daily average of around 5.6 million shares traded. The company lost Fidelity’s credit card business on Monday and the impact on the stock is not letting up today.
Banco Santander SA (NYSE: SA) posted a new low on Tuesday. Shares dropped about 3.3% to a low of $4.63 from Monday’s closing price of $4.69. The stock’s 52-week high is $8.00. Volume was about slightly higher than the daily average of around 6 million shares. The Spanish bank had no specific news today.