March 8, 2016: Here are four stocks trading with heavy volume among 18 equities making new 52-week lows today.
Performance Sports Group Ltd. (NYSE: PSG) fell by nearly 66% on Tuesday to post a new 52-week low of $2.94 against a high of $21.72. The stock closed at $8.66 on Monday night. Volume rose to nearly 15 million shares, more than 30 times the daily average of about 400,000 shares traded. The sports equipment maker lowered its fiscal year EPS guidance and said it expects a net loss in the current quarter. Read our coverage.
The Manitowoc Company Inc. (NYSE: MTW) dropped about 6% on Tuesday to post a new 52-week low of $4.00 against a 52-week high of $22.67. The stock closed at $4.25 on Monday night. Volume rose to more than 7 million shares, nearly double the stock’s daily average volume of around 3.6 million. The company spun off its food services business last week and investors worry that the part that was left behind is overvalued..
Celldex Therapeutics Inc. (NASDAQ: CLDX) posted a new 52-week low on Tuesday. Shares traded at a low of $3.57, down about 5.8%, after closing at $3.79 on Monday. The stock’s 52-week high is $32.82. Volume totaled nearly double the daily average of around 3.2 million shares. The company said on Monday that it is discontinuing the phase 3 trials of its brain tumor vaccine and that took the stock down by more than half. Tuesday’s drop was a little late bleeding.
Vivint Solar Inc. (NYSE: VSLR) dropped by nearly 23% on Tuesday to post a new 52-week low at $4.03 after closing at $5.21 on Monday. The stock’s 52-week high is $16.00. Share volume totaled more than 3.8 million, more than 7 times the daily average of around 470,000 shares traded. The company cancelled its proposed $2.2 billion sale to SunEdison Tuesday morning.
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