Under Armour, Sabre Corp. Tumble into Tuesday’s 52-Week Low Club
Under Armour, Sabre, Eldorado Gold, and Gulfport Energy all posted new 52-week lows today.
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August 1, 2017: Here are four stocks trading with heavy volume among 104 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by about 4 to 3 and on the Nasdaq, advancers led decliners by a narrow 15 to 14.
Under Armour Inc. (NYSE: UAA, NYSE: UA) dropped about 9% and 10%, respectively, Tuesday to register new 52-week lows of $18.06 and $16.27 after closing at $20.02 and $18.11 on Monday. The 52-week highs are $43.85 and $42.94. Volume was over 20 million on UAA and nearly 20 million on UA. The sports gear maker beat estimates by a bit for the quarter, but the outlook coupled with a restructuring weighed on Class A shares (UAA) and Class C shares (UA) in Tuesday trading.
Sabre Corp. (NASDAQ: SABR) posted a new 52-week low of $19.50 on Tuesday, down nearly 12% from Monday’s closing price of $22.13. The stock’s 52-week high is $29.45. Volume totaled around 8 million shares, more than double the daily average of around 3.2 million. The company reported a loss this morning and announced a layoff of 900 employees.
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Eldorado Gold Corp. (NYSE: EGO) dropped about 4.2% Tuesday to post a new 52-week low of $2.03 after closing Monday at $2.12. The 52-week high is $4.38. Volume reached nearly 6 million shares traded, or about 20% below the daily average of around 7.8 million. The company had no specific news.
Gulfport Energy Corp. (NASDAQ: GPOR) dropped about 1.2% Tuesday to post a new 52-week low of $12.47 after closing at $12.62 on Monday. The stock’s 52-week high is $30.47. Volume of about 4.5 million was about 15% above the daily average. The company issued a downbeat second-quarter production and pricing report yesterday.
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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.
