September 21, 2016: Here are four stocks trading with relatively heavy volume among 36 equities making new 52-week lows in Wednesday’s session. NYSE advancers led decliners by more than 6 to 1 and Nasdaq advancers led decliners by about 7 to 3.
Skechers U.S.A. Inc. (NYSE: SKX) lost about 10% Wednesday to post a new 52-week low of $20.90 after closing Tuesday at $23.23. The 52-week high is $49.28. Volume of around 11.7 million was nearly 4 times the daily average of around 3 million. The stock was downgraded to Equal Weight at Morgan Stanley this morning.
Ascena Retail Group Inc. (NASDAQ: ASNA) dropped about 6.3% on Wednesday to post a new 52-week low of $5.33 after closing at $5.69 on Tuesday. The stock’s 52-week high is $14.76. Volume was more than 5 times the daily average of around 2.8 million shares. The retail group reported poor results Monday night and the shares took some downgrades the next morning.
Tenet Healthcare Corp. (NYSE: THC) dropped about 5% on Wednesday to post a new 52-week low of $20.93 against a 52-week high of $45.12. Volume of around 2.5 million was about 30% above the daily average of 1.7 million shares traded. The stock closed at $22.02 on Tuesday night. The healthcare company had no specific news.
Abercrombie & Fitch Co. (NYSE: ANF) dropped about 2.7% on Wednesday to post a new 52-week low of $16.39 against a 52-week high of $32.83. Volume of around 2.7 million was about equal to the daily average. The stock closed at $16.85 on Tuesday night. The clothing retailer had no specific news Wednesday.