Investing
Reynolds American, Cree Drop in on Wednesday's 52-Week Low Club
Published:
Last Updated:
October 19, 2016: Here are four stocks trading with relatively heavy volume among 45 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by more than 2 to 1 and on the Nasdaq advancers led decliners by more than 1.5 to 1.
Reynolds American Inc. (NYSE: RAI) dropped about 8.2% on Wednesday to post a new 52-week low of $43.38 against a 52-week high of $54.48. Volume of about 11 million was more than double the daily average of around 4.4 million. The stock closed at $47.27 on Tuesday night. Third-quarter results missed estimates and the company announced a CEO change to take effect next year.
Cree Inc. (NASDAQ: CREE) lost about 14.7% Wednesday to post a new 52-week low of $21.50 after closing Tuesday at $25.20. The 52-week high is $32.92. Volume of about 10 million was about 10 times the daily average of around 1 million shares traded. The lighting company missed earnings last night and shares were downgraded this morning.
Acadia Healthcare Company Inc. (NASDAQ: ACHC) dropped about 16% on Wednesday to post a new 52-week low of $37.96 after closing at $45.19 on Tuesday. The stock’s 52-week high is $74.77. Volume was nearly 8 times the daily average of around 1 million shares. No news here either, but notice that all four of today’s losers are retail stocks. Another weak report, this one preliminary, on third-quarter results.
Ascena Retail Group Inc. (NASDAQ: ASNA) lost about 2.6% Wednesday to post a new 52-week low of $4.87 after closing Tuesday at $5.00. The 52-week high is $14.03. Volume of 3.6 million was around 10% higher than the daily average of about 1 million shares traded. The company had no specific news Wednesday.
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
