Fitbit, Akorn Tumble into Tuesday’s 52-Week Low Club
Fitbit, Akorn, Barrick Gold, and Cemex all posted new 52-week lows Tuesday.
February 27, 2018: Here are four stocks trading with heavy volume among 90 equities making new 52-week lows in Tuesday’s session. On the NYSE decliners led advancers by more than 3 to 1 and on the Nasdaq, advancers led decliners by about the same ratio.
Fitbit Inc. (NYSE: FIT) traded down nearly 16% Tuesday and posted a new 52-week low of $4.67 after closing Monday at $5.54. The stock’s 52-week high is $7.32. Volume was more than six times the daily average of 5.4 million shares. The company reported poor results last night and offered up weak guidance as a side dish. https://247wallst.com/consumer-electronics/2018/02/26/fitbit-whiffs-big-on-earnings-and-even-bigger-on-guidance/
Akorn Inc. (NASDAQ: AKRX) dropped nearly 40% Tuesday to post a new 52-week low of $18.20. Shares closed at $30.28 on Monday and the stock’s 52-week high is $34.00. Volume was nearly 22 million, more than 20 times the daily average. A potential acquirer has announced an investigation into possible data breaches. https://247wallst.com/healthcare-business/2018/02/27/could-data-breaches-break-up-the-akorn-aquisition/
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Barrick Gold Corp. (NYSE: ABX) fell about 3.7% Tuesday to post a new 52-week low of $11.74 after closing at $12.19 on Monday. The 52-week high is $20.36. Volume of more than 15 million was about 25% above the daily average. The company had no specific news.
Cemex SAB de CV (NYSE: CX) traded down 4% Tuesday and posted a new 52-week low of $6.68 after closing Monday at $6.96. The stock’s 52-week high is $10.37. Volume was around 12.5 million, about 25% above the daily average of around 10.5 million. 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.
