Hanesbrands, AstraZeneca Plop into Wednesday’s 52-Week Low Club
December 7, 2016: Here are four stocks trading with relatively heavy volume among 34 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by more than 3 to 1 and on the Nasdaq advancers led…
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December 7, 2016: Here are four stocks trading with relatively heavy volume among 34 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by more than 3 to 1 and on the Nasdaq advancers led decliners by nearly 2 to 1.
Hanesbrands Inc. (NYSE: HBI) dropped about 5.9% on Wednesday to post a new 52-week low of $21.50 after closing at $22.86 on Tuesday. The stock’s 52-week high is $31.36. Volume of about 31 million was more than 7 times the daily average of 4.5 million. The company had no specific news.
AstraZeneca plc (NYSE: AZN) lost about 1.8% Wednesday to post a new 52-week low of $25.55 after closing Tuesday at $26.01. The 52-week high is $35.04. Volume of around 10 million was about 50% above the daily average of around 6.3 million shares traded. The drug maker had no specific news.
Sigma Designs Inc. (NASDAQ: SIGM) dropped about 34% on Wednesday to post a new 52-week low of $5.20 against a 52-week high of $8.60 and a Tuesday close of $7.75. Volume of about 6.2 million was about 25 times the daily average of around 280,000. The company reported so-so earnings on Tuesday and the stock was downgraded and price targets lowered by several analysts.
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Under Armour Inc. (NYSE: UA) dropped about 2.4% on Wednesday to post a new 52-week low of $26.02 after closing at $26.65 on Tuesday. The stock’s 52-week high is $47.95. Volume was about equal to the daily average of around 6 million shares. The company’s class A common shares have changed their ticker symbol from UA to UAA and the class C non-voting shares will now trade under the UA ticker symbol.
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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.
