The 52-Week Low Club for Wednesday
June 15, 2016: Here are four stocks trading with relatively heavy volume among 28 equities making new 52-week lows in Wednesday’s session. NYSE advancers led decliners by less than 2 to 1 while Nasdaq decliners and advancers ended the day roughly even.
ImmunoGen Inc. (NASDAQ: IMGN) posted a new 52-week low on Wednesday. Shares traded at a low of $3.36, down about 3.7%, after closing at $3.49 on Tuesday. The stock’s 52-week high is $19.43. Volume was about 6 times the daily average of around 1.7 million shares. The company announced a $100 million convertible note offering on Tuesday and price the notes this morning in a private placement.
JD.com Inc. (NYSE: JD) dropped by about 4.7% on Wednesday to post a new 52-week low at $19.91 after closing at $20.90 on Tuesday. The stock’s 52-week high is $37.15. Daily volume totaled around 13.7million shares, about 10% below the daily average of around 14.9 million shares. The Chinese internet provider had no specific news on Wednesday.
HollyFrontier Corp. (NYSE: HFC) dropped about 2.3% on Wednesday to post a new 52-week low of $24.11 against a 52-week high of $54.73. Volume was about 10% higher than the daily average of around 2.9 million. The stock closed at $24.67 on Tuesday night. Refiners are struggling with inventory builds in gasoline supplies.
Coca-Cola European Partners Plc (NYSE: CCE) fell by about 0.5% on Wednesday to post a new 52-week low of $37.19 against a high of $54.54. The stock closed at $37.39 on Tuesday night. Volume reached about 2.3 million shares, around 50% below the stock’s daily average of around 4.9 million. The European bottlers of Coca-Cola products had no specific news Wednesday.