The 52-Week Low Club for Tuesday
April 5, 2016: Here are four stocks trading with relatively heavy volume among 36 equities making new 52-week lows in Tuesday’s session. The day’s losers held a 2-to-1 advantage over gainers on the NYSE. The ratio was essentially the same…
April 5, 2016: Here are four stocks trading with relatively heavy volume among 36 equities making new 52-week lows in Tuesday’s session. The day’s losers held a 2-to-1 advantage over gainers on the NYSE. The ratio was essentially the same on the Nasdaq.
Allergan plc (NYSE: AGN) posted a new 52-week low on Tuesday. Shares traded at a low of $226.43, down more than 18%, after closing at $277.55 on Monday. The stock’s 52-week high is $340.34. Volume totaled more than 10 times the daily average of around 3 million shares. The company’s proposed merger with Pfizer is in serious jeopardy following an announcement of tougher federal rules on tax inversions.
Barclays PLC (NYSE: BCS) dropped about 4% on Tuesday to post a new 52-week low of $8.22 against a 52-week high of $18.05. The stock closed at $8.56 on Monday night. Volume was about 20% above the stock’s daily average volume of around 4.7 million. A report at Bloomberg said the bank expects to report lower income in the first quarter of this year compared with income in 2015’s first quarter.
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H&R Block Inc. (NYSE: HRB) dropped about 4.3% on Tuesday to post a new 52-week low at $25.20 after closing at $26.33 on Monday. The stock’s 52-week high is $37.53. Share volume of about 3.8million was 15% higher than the daily average of around 3.4 million shares traded. The tax preparation company had no specific news Tuesday.
HSBC Holdings plc (NYSE: HSBC) fell by about 3.9% on Tuesday to post a new 52-week low of $29.58 against a high of $50.26. The stock closed at $30.79 on Monday night. Volume rose to around 3.8 million shares, roughly in line with the daily average. The bank has featured prominently in the recently released Panama Papers.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
