Kroger, Mattel Plunge into Thursday's 52-Week Low Club
June 15, 2017: Here are four stocks trading with heavy volume among 126 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by nearly 2 to 1 and on the Nasdaq, decliners led advancers by more than 2 to 1.
The Kroger Co. (NYSE: KR) dropped about 19% Thursday to post a new 52-week low of $24.54 after closing at $30.28 on Wednesday. The stock’s 52-week high is $37.97. Volume of about 62 million was more than 7 times the daily average. The company reported poor earnings and offered weak guidance. Other grocery chains are feeling the pinch too. https://247wallst.com/retail/2017/06/15/is-this-the-death-of-grocery-stores-all-over-again/
Mattel Inc. (NASDAQ: MAT) dropped 8.4% Thursday to post a new 52-week low of $20.29 after closing at $22.15 on Wednesday. The stock’s 52-week high is $34.24. Volume reached nearly 29 million, about 5 times the daily average of around 6 million shares. The company has chopped its dividend as it embarks on a turnaround effort.
Whiting Petroleum Corp. (NYSE: WLL) dropped 7.3% Thursday to post a new 52-week low of $5.55 after closing Wednesday at $5.89. The 52-week high is $13.39. Volume was about 15% below the daily average of about 18 million shares. The company had no specific news, but falling crude oil prices are especially tough on smaller producers.
Ensco plc (NYSE: ESV) posted a new 52-week low of $5.62 on Thursday, down about 4.7% compared with Wednesday’s closing price of $5.90. Volume totaled about 14 million shares, about 15% above the daily average of around 12 million. The offshore driller had no specific news Thursday.