The 52-Week Low Club for Wednesday
April 13, 2016: Here are two stocks trading with relatively heavy volume among 5 equities making new 52-week lows in Wednesday’s session. The day’s NYSE and Nasdaq winners led losers by about 3 to 1. No other company that traded…
April 13, 2016: Here are two stocks trading with relatively heavy volume among 5 equities making new 52-week lows in Wednesday’s session. The day’s NYSE and Nasdaq winners led losers by about 3 to 1.
No other company that traded more than 100,000 shares posted a new low today.
Allergan plc (NYSE: AGN) dropped about 4.4% on Wednesday to post a new 52-week low of $212.67 against a 52-week high of $340.34. The stock closed at $222.57 on Tuesday night. Volume was nearly 3 times the stock’s daily average volume of around 4.3 million. The giant pharmaceutical house had no specific news Wednesday.
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Adesto Technologies Corp. (NASDAQ: IOTS) posted a new 52-week low on Wednesday. Shares traded at a low of $4.63, down more than 15%, after closing at $5.47 on Tuesday. The stock’s post-IPO high is $8.50. Volume totaled nearly 30 times the daily average of around 22,000 shares. The maker of memory products for a variety of devices said this morning that it will miss its first-quarter revenue estimate.
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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.