The 52-Week Low Club for Tuesday
June 14, 2016: Here are four stocks trading with relatively heavy volume among 97 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 5 to 3.
JD.com Inc. (NYSE: JD) dropped by about 2.9% on Tuesday to post a new 52-week low at $20.38 after closing at $20.99 on Monday. The stock’s 52-week high is $37.15. Daily volume totaled around 13.2 million shares, about 10% below the daily average of about 14.8 million shares. The Chinese internet provider had no specific news on Tuesday, but Baidu’s revised revenue outlook may have had some negative effect on JD as well.
American Airlines Group Inc. (NASDAQ: AAL) dropped about 5.6% on Tuesday to post a new 52-week low of $30.02 against a 52-week high of $47.09. Volume was about 30% higher than the daily average of around 9.1 million. The stock closed at $31.80 on Monday night. Airline stocks did poorly Tuesday on both concerns about an increase in terrorism and fallout from the U.K.’s exit from the European Union.
ImmunoGen Inc. (NASDAQ: IMGN) posted a new 52-week low on Tuesday. Shares traded at a low of $3.59, down about 25%, after closing at $4.95 on Monday. The stock’s 52-week high is $19.43. Volume was more than 10 times above the daily average of around 1.4 million shares. The company announced a $100 million convertible note offering this morning.
United Continental Holdings Inc. (NYSE: UAL) fell by about 5.9% on Tuesday to post a new 52-week low of $41.46 against a high of $62.213. The stock closed at $44.06 on Monday night. Volume reached about 7.9 million shares, around 60% above the stock’s daily average of around 5.4million. The airline had no news, but being an airline was tough Tuesday.