Macy’s, TripAdvisor Plunge into Tuesday’s 52-Week Low Club
Mallinckrodt, Pandora, TripAdvisor, and Macy's all posted new 52-week lows on Tuesday.
November 7, 2017: Here are four stocks trading with heavy volume among 141 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by nearly 4 to 3 and on the Nasdaq decliners led advancers by almost 3 to 1.
Mallinckrodt plc (NYSE: MNK) dropped 39% Tuesday to post a new 52-week low of $19.01 after closing at $31.18 on Monday. The 52-week high is $68.12. Volume was around 32 million, about 16 times the daily average of about 2 million. The generic drug maker missed analysts revenue estimate.
Pandora Media Inc. (NYSE: P) dropped about 5.9% Tuesday to post a new 52-week low of $4.97 after closing at $5.28 on Monday. The stock’s 52-week high is $14.10. Volume of around 26 million was nearly 4 times the daily average. The streaming music company posted a smaller-than-expected loss but missed revenues when it reported last Thursday night.
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TripAdvisor Inc. (NASDAQ: TRIP) dropped about 22% Tuesday to post a new 52-week low of $30.80 after closing at $39.53 on Monday. The 52-week high is $65.56. Volume was around 24 million, eight times the daily average of around 3 million. The company reported weak revenues Monday and it and two of its competitors are getting hammered today.
Macy’s Inc. (NYSE: M) posted a new 52-week low of $17.41 on Tuesday, down about 4.3% from Monday’s closing price of $18.16. The stock’s 52-week high is $45.41. Volume totaled around 15 million shares, nearly 50% above the daily average. The company had no specific news.
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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.
