The 52-Week Low Club for Wednesday
April 27, 2016: Here are three stocks trading with relatively heavy volume among 11 equities making new 52-week lows in Wednesday’s session. No other stock trading at least 1 million shares posted a new low Wednesday. NYSE advancing stocks led decliners by about 3 to 1 while Nasdaq advancers led decliners by a much narrower 5 to 4 margin in the day’s trading.
H&R Block Inc. (NYSE: HRB) dropped about 17% on Wednesday to post a new 52-week low at $19.75 after closing at $23.82 on Tuesday. The stock’s 52-week high is $37.53. Share volume of was about 4 times the daily average of around 3.7 million shares traded. The tax preparer laid of 13% of its workforce today citing a poor tax season.
Buffalo Wild Wings Inc. (NASDAQ: BWLD) posted a new 52-week low on Wednesday. Shares traded at a low of $122.25, down more than 15%, after closing at $144.62 on Tuesday. The stock’s 52-week high is $205.83. Volume totaled more than 6 times the daily average of around 660,000 shares. The fast-casual food service operator missed expectations last night and havoc ensued this morning. The stock was also dropped from Goldman’s Conviction Buy list.
Perrigo Company plc (NYSE: PRGO) fell by about 3.2% on Wednesday to post a new 52-week low of $96.37 against a high of $200.96. The stock closed at $99.55 on Tuesday night. Volume totaled about 3.6 million shares, about 50% above the daily average of around 2.4 million. The company had no specific news Wednesday, but the fallout from a lowered outlook and a disappearing CEO isn’t quite finished yet.