Range Resources, AMC Plummet into Wednesday's 52-Week Low Club
August 2, 2017: Here are four stocks trading with heavy volume among 142 equities making new 52-week lows in Wednesday’s session. On the NYSE, decliners led advancers by about 3 to 2 and on the Nasdaq advancers led decliners by a about 5 to 2.
Range Resources Corp. (NYSE: RRC) dropped about 12.8% Wednesday to register a new 52-week low of $17.71 after closing at $20.30 on Tuesday. The 52-week high is $43.60. Volume was nearly 20 million, nearly 4 times the daily average. The natural gas producer missed estimates this morning and revised its growth projections downward. It was one of several energy companies that took some price target cuts from analysts.
GGP Inc. (NYSE: GGP) posted a new 52-week low of $21.05 on Wednesday, down about 8.6% from Tuesday’s closing price of $23.04. The stock’s 52-week high is $31.35. Volume totaled around 17 million shares, well over double the daily average of around 6.5 million. The REIT missed revenue estimates this morning.
Southwestern Energy Co. (NYSE: SWN) dropped about 5.1% Wednesday to post a new 52-week low of $5.37 after closing Tuesday at $5.66. The 52-week high is $15.59. Volume topped 15 million shares traded, about 20% below the daily average of around 19.6 million. The company had no specific news, but is expected to report quarterly results Thursday. Expectations are not high.
AMC Entertainment Holdings Inc. (NYSE: AMC) dropped more than 23% Wednesday to post a new 52-week low of $15.15 after closing at $20.80 on Tuesday. The stock’s 52-week high is $35.65. Volume of about 14 million was about 7 times the daily average. The company warned that second-quarter earnings were not likely to meet expectations when it reports earnings next week.