Coty, Teva Crash into Tuesday’s 52-Week Low Club
Coty, Teva, Whiting Petroleum and Foot Locker all posted new 52-week lows Tuesday.
August 22, 2017: Here are four stocks trading with heavy volume among 127 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by about 7 to 3 and on the Nasdaq advancers led decliners by about the same margin.
Coty Inc. (NYSE: COTY) dropped about 17.7% Tuesday to post a new 52-week low of $16.08 after closing at $19.55 on Monday. The stock’s 52-week high is $29.00. Volume of around 34 million was about 8 times the daily average of about 4.2 million. The company missed profit estimates this morning.
Teva Pharmaceuticals Industries Inc. (NYSE: TEVA) posted a new 52-week low of $16.73 on Tuesday, down about 1.8% from Monday’s closing price of $17.07. The stock’s 52-week high is $53.96. Volume totaled around 12 million shares, about 20% below the daily average of around 15 million. The company had no specific news.
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Whiting Petroleum Corp. (NYSE: WLL) dropped about 0.7% Tuesday to post a new 52-week low of $4.23 after closing Monday at $4.26. The 52-week high is $13.39. Volume of around 11 million shares traded was about 50% below the daily average of around 23 million. The oil & gas producer had no specific news Tuesday.
Foot Locker Inc. (NYSE: FL) dropped about 0.8% Tuesday to register a new 52-week low of $31.57 after closing at $31.82 on Monday. The 52-week high is $79.43. Volume was around 9 million, about double the daily average. The company reported poor results last Friday, leading to three consecutive new annual lows.
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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.