Ambev, Banco Santander Plunge into Tuesday’s 52-Week Low Club
Ambev, Banco Santander, Deutsche Bank, and Banco Bradesco all posted new 52-week lows Tuesday.
May 29, 2018: Here are four stocks trading with heavy volume among 111 equities making new 52-week lows in Tuesday’s session. On the NYSE decliners led advancers by about 1.33 to 1 and on the Nasdaq, decliners led advancers by about 1.58 to 1.
Ambev SA (NYSE: ABEV) fell about 5.3% Tuesday to post a new 52-week low of $5.19 after closing at $5.45 on Friday. The 52-week high is $7.43. Volume of more than 24 million was about 10% above the daily average of about 22.7 million. The beverage giant had no specific news Tuesday.
Banco Santander SA (NYSE: SA) traded down about 10% Tuesday and posted a new 52-week low of $5.25 after closing Friday at $5.84. The stock’s 52-week high is $7.57. Volume totaled around 24.5 million, about four times the daily average of around 6 million. European banks were hit hard by events in Italy, but Santander had no specific news.
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Deutsche Bank AG (NYSE: DB) dropped about 7.2% Tuesday to post a new 52-week low of $11.18. Shares closed at $12.05 on Friday and the stock’s 52-week high is $20.23. Volume of around 13.3 million shares was three times the daily average.The bank said it plans no further job cuts in Russia, but today was not a good day to be a European bank.
Banco Bradesco SA (NYSE: BBD) traded down about 6.1% Tuesday to post a new 52-week low of $7.79 after closing Friday at $8.30. The stock’s 52-week high is $13.18. Volume was about 15% above the daily average of around 9.2 million shares. The Brazilian bank 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.
