Ambev, MiMedX Plummet into Thursday’s 52-Week Low Club
Ambev, Banco Bradesco, Itaú Unibanco, and MiMedX all posted new 52-week lows Thursday.
June 7, 2018: Here are four stocks trading with heavy volume among 68 equities making new 52-week lows in Thursday’s session. On the NYSE advancers led decliners by about 1.24 to 1 and on the Nasdaq, decliners led advancers by about 1.16 to 1.
Ambev SA (NYSE: ABEV) fell about 5.3% Thursday to post a new 52-week low of $4.80 after closing at $5.07 on Wednesday. The 52-week high is $7.43. Volume of around 78 million was more than three times the daily average of about 23 million. The Brazil-based beverage distributor had no specific news.
Itaú Unibanco Holdings SA (NYSE: ITUB) traded down about 9.4% Thursday and posted a new 52-week low of $10.02 after closing Wednesday at $11.04. The stock’s 52-week high is $16.98. Volume totaled nearly 26 million, almost three times the daily average of around 9.8 million. The bank, Brazil’s largest private lender, lost an appeal of a $710 million tax bill.
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Banco Bradesco SA (NYSE: BBD) traded down about 9.5% Thursday to post a new 52-week low of $6.68 after closing Wednesday at $7.38. The stock’s 52-week high is $13.18. Volume was more about three times the daily average of around 9.8 million shares. Another Brazilian bank with no specific news, but a lot of apparently unhappy shareholders reacting to continuing declines in the Brazilian real.
MiMedX Group Inc. (NASDAQ: MDXG) dropped about 29% Thursday to post a new 52-week low of $5.80. Shares closed at $8.21 on Wednesday and the stock’s 52-week high is $18.25. The biomedical company will restate financial reports filed for more than the last five years. The company’s CFO and its controller and treasurer were both fired Wednesday.
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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.
