The 52-Week Low Club for Tuesday
May 17, 2016: Here are four stocks trading with heavy volume among 71 equities making new 52-week lows in Tuesday’s session. NYSE decliners led advancers by about 2 to 1 while Nasdaq decliners led advancers by about 3 to 2.
LendingClub Corp. (NYSE: LC) fell by about 12.7% on Tuesday to post a new 52-week low of $3.44 against a high of $7.63. The stock closed at $5.18 on Monday night. Volume was nearly 4 times the stock’s daily average of around 11.8 million. The U.S. Department of Justice will investigate the transactions that led Lending Club to replace its CEO.
Office Depot Inc. (NASDAQ: ODP) dropped about 8.9% on Tuesday to post a new 52-week low of $3.18 against a 52-week high of $9.37. The stock closed at $33.49 on Monday night. Volume was about 2.5 times the stock’s daily average volume of around 13.8 million shares. The office supply company said it is launching a strategic review following the termination of its merger deal with Staples.
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Macy’s Inc. (NYSE: M) dropped by about 1.7% on Tuesday to post a new 52-week low at $30.21 after closing at $30.73 on Monday. The stock’s 52-week high is $73.61. Daily volume rose to about 50% more than the average of about 5 million shares. The big department store had no specific news on Tuesday, and even solid results from TJX stores this morning couldn’t hold back the sell-off.
Nordstrom Inc. (NYSE: JWN) posted a new 52-week low on Tuesday. Shares traded at a low of $37.51, down about 2.7%, after closing at $38.54 on Monday. The stock’s 52-week high is $80.23. Volume was about 50% higher than the daily average of around 4.2 million shares. Target hired away the company’s chief marketing officer and BMO Capital Markets cut its price target.