Royal Bank of Scotland in Friday’s 52-Week Low Club
July 1, 2016: Here are three stocks trading with relatively heavy volume among 12 equities making new 52-week lows in Friday’s session. With the long weekend ahead volume was light on the exchanges and sentiment seemed to favor being patient.…
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July 1, 2016: Here are three stocks trading with relatively heavy volume among 12 equities making new 52-week lows in Friday’s session. With the long weekend ahead volume was light on the exchanges and sentiment seemed to favor being patient. NYSE advancers led decliners by less than 2 to 1 and Nasdaq advancers led decliners by a margin of about 3 to 2.
Royal Bank of Scotland Group plc (NYSE: RSB) fell by about 2.8% on Friday to post a new 52-week low of $4.57 against a high of $11.27. The stock closed at $4.70 on Thursday night. Volume reached around 4.5 million shares, nearly double the stock’s daily average of around 2.4 million. The bank had no specific news Friday.
Franklin Covey Co. (NYSE: FC) dropped about 12.3% on Friday to post a new 52-week low of $13.45 against a 52-week high of $19.63. Volume is about 4 times the daily average of around 40,000. The consulting services company missed estimates when it reported results Thursday night.
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Intricon Corp. (NASDAQ: IIN) dropped about 14.4% on Friday to post a new 52-week low of $4.57 against a 52-week high of $8.65. Volume was more than 16 times higher than the daily average of around 10,000. The stock closed at $5.34 on Thursday night. The company reported preliminary results after markets closed Thursday, indicating lower than expected revenues and a net loss for its June quarter.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.