Fossil Group, Kimco Realty Plop into Wednesday's 52-Week Low Club
February 15, 2017: Here are four stocks trading with relatively heavy volume among 28 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners about 4 to 3 and on the Nasdaq advancers led decliners by about 9 to 5.
Fossil Group Inc. (NASDAQ: FOSL) dropped nearly 21% Wednesday, to post a new 52-week low of $18.10 after closing at $22.87 on Tuesday. The stock’s 52-week high is $51.93. Volume was about 15 times the daily average of around 1.2 million shares. The company reported so-so results last night and Wells Fargo cut its rating on the stock to Underperform this morning.
Gevo Inc. (NASDAQ: GEVO) dropped about 16 Wednesday to post a new 52-week low of $1.33 after closing Tuesday at $1.59. The 52-week high is $27.20. Volume of about 3.5 million was nearly 5 times the daily average of around 760,000 shares traded. On Tuesday the renewable chemicals and biofuels priced a secondary offering of 5.68 million shares at $1.90 per share, and also 570,000 units of three different warrants. Today’s drop was about half the size of Tuesday’s.
DDR Corp. (NYSE: DDR) dropped about 2.8% on Wednesday to record a new 52-week low of $14.43. The stock closed at $14.84 on Tuesday. Volume was about 15% higher than the daily average of around 2.9 million shares. The Ohio-based REIT posted disappointing results on Monday.
Kimco Realty Corp. (NYSE: KIM) dropped about 2.7% Wednesday, to post a new 52-week low of $24.02 after closing at $24.68 on Tuesday. The stock’s 52-week high is $32.24. Volume was about 15% below the daily average of around 3.3 million shares. The company had no specific news Wednesday.