Fitbit, Macy’s Slip into Monday’s 52-Week Low Club
Fitbit, GIII Apparel, CenturyLink, and Macy's all posted new 52-week lows on Monday.
[cnxvideo id=”550173″ placement=”ros”]March 27, 2017: Here are four stocks trading with relatively heavy volume among 95 equities making new 52-week lows in Monday’s session. On the NYSE, decliners led advancers by less than 50 stocks and on the Nasdaq advancers led decliners by about 4 to 3.
Fitbit Inc. (NYSE: FIT) dropped about 1.7% Monday, to post a new 52-week low of $5.31 after closing at $5.40 on Friday. The stock’s 52-week high is $18.85. Volume was about 30% below the daily average of around 11 million. The company had no specific news, and shares are on track to close the day’s trading up nearly 6%.
G-III Apparel Group Ltd. (NASDAQ: GIII) posted a new 52-week low of $19.10 on Monday, down about 16.7% compared with Friday’s closing price of $22.92. Volume was more than 10 times the daily average of around 680,000 shares. The company posted weak results this morning.
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CenturyLink Inc. (NYSE: CTL) dropped about 1.8% Monday to post a new 52-week low of $22.35 after closing Friday at $22.76. The stock’s 52-week high is $33.45. Volume of about 7 million shares was about 15% below the daily average of around 7.8 million. The company had no specific news.
Macy’s Inc. (NYSE: M) dropped about 1.6% Monday, to post a new 52-week low of $27.73 after closing at $28.17 on Friday. The stock’s 52-week high is $45.41. Volume was 40% below the daily average of around 9 million shares. The company signed an exclusive deal with G-III today to carry the DKNY brand in Macy’s U.S. stores.
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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.