Tesla, AMD Plummet into Monday’s 52-Week Low Club
Tesla, Fitbit, AMD, and Weatherford all posted new 52-week lows Monday.
April 2, 2018: Here are four stocks trading with heavy volume among 234 equities making new 52-week lows in Monday’s session. On the NYSE decliners led advancers by more than 4 to 1 and on the Nasdaq, decliners led advancers by same ratio.
Advanced Micro Devices Inc. (NASDAQ: AMD) fell by about 5.4% Monday to post a new 52-week low of $9.51 after closing at $10.05 on Thursday. The 52-week high is $15.65. Volume of about 54 million was around 15% below the daily average. The company had no specific news.
Weatherford International plc (NYSE: WFT) traded down about 9.2% Monday and posted a new 52-week low of $2.08 after closing Thursday at $2.29. The stock’s 52-week high is $6.86. Volume was about 20% below the daily average of around 23.7 million shares. The company had no specific news.
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Tesla Inc. (NASDAQ: TSLA) traded down about 8% Monday and posted a new 52-week low of $244.59 after closing Thursday at $266.13. The stock’s 52-week high is $389.61. Volume totaled around 14.7 million, more than double the daily average. The stock sank as investors worry that shipments of Model 3 will miss targets.
Fitbit Inc. (NYSE: FIT) dropped 11.6% Monday to post a new 52-week low of $4.51. Shares closed at $5.10 on Thursday and the stock’s 52-week high is $7.32. Volume was more than double the daily average of around 6 million shares. The company took a ratings downgrade to Sell from Morgan Stanley this morning.
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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.
