May 16, 2016: Here are four stocks trading with heavy volume among 46 equities making new 52-week lows in Monday’s session. NYSE advancers led decliners by 3 to 1 while Nasdaq decliners led advancers by about 5 to 3.
Nokia Corp. (NYSE: NOK) fell by about 1.9% on Monday to post a new 52-week low of $5.08 against a high of $7.63. The stock closed at $5.18 on Friday night. Volume was more than 3 times the stock’s daily average of around 10 million. Nokia stock received an upgrade from Canaccord Genuity today, but the share price bounced around lower most of the day.
American Airlines Group Inc. (NASDAQ: AAL) dropped about 1.7% on Monday to post a new 52-week low of $30.99 against a 52-week high of $49.68. The stock closed at $31.51 on Friday night. Volume was about 15% above the stock’s daily average volume of around 8.8 million shares. The airline had no specific news Monday, although competitor Delta announced a accelerated buyback and a dividend hike.
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Western Digital Corp. (NASDAQ: WDC) dropped by about 1.3% on Monday to post a new 52-week low at $34.99 after closing at $35.44 on Friday. The stock’s 52-week high is $99.76. Daily volume slipped to about 15% below the average of about 6.3 million shares. The hard drive maker had no specific news Monday.
HollyFrontier Corp. (NYSE: HFC) posted a new 52-week low on Monday. Shares traded at a low of $26.82, down about 4.6%, after closing at $28.12 on Friday. The stock’s 52-week high is $54.73. Volume was about 40% higher than the daily average of around 2.8 million shares. The oil refiner’s stock was downgraded at Tudor Pickering Monday morning.