The 52-Week Low Club for Monday
April 18, 2016: Here are four stocks trading with relatively heavy volume among 13 equities making new 52-week lows in Monday’s session. The day’s NYSE advancing stocks beat decliners by about 2.5 to 1 and Nasdaq advancers led decliners by more than 2 to 1 in Monday’s trading.
Calumet Specialty Products Partners LP (NASDAQ: CLMT) posted a new 52-week low on Monday. Shares traded at a low of $4.90, down about 52%, after closing at $10.27 on Friday. The stock’s 52-week high is $28.49. Volume totaled about 15 times the daily average of around 620,000 shares. The master limited partnership suspended its quarterly cash distribution of $0.685 per common unit ($2.74 annualized) and announced a privalte place of $400 million in senior secured notes due 2021 at a coupon of 11.5%.
Seagate Technology PLC (NASDAQ: STX) dropped about 1.8% on Monday to post a new 52-week low of $25.14 against a 52-week high of $60.09. The stock closed at $25.59 on Friday night. Volume was 50% higher than the stock’s daily average volume of around 6.4 million shares. The hard drive maker had no specific news Monday, but last Wednesday’s warning hasn’t stopped bashing the shares around.
Chiasma Inc. (NASDAQ: CHMA) fell by nearly 64% on Monday to post a new 52-week low of $3.71 against a high of $30.52. The stock closed at $10.17 on Friday night. Volume totaled about 6.5 million shares, about 20 times the daily average of around 325,000. The biopharma firm was told that its octreotide drug is not ready for FDA approval in its present form.
Liberty Media Corp. (NASDAQ: LMCA) dropped about 52% on Monday to post a new 52-week low at $18.77 after closing at $39.06 on Friday. The stock’s 52-week high is $42.22. Share volume of around 3 million was about 3 times the daily average of about 1 million shares traded. The media company completed its reclassification of common stock into three new tracking stocks with each prior share of common stock exchanged for 0.1 share of Liberty Braves series A common stock, one share of Liberty SiriusXM common stock, and 0.25 share of series A Liberty Media common stock.