Investing

Starbucks, MGM Resorts Slink into Tuesday's 52-Week Low Club

Thinkstock

June 26, 2018: Here are four stocks trading with heavy volume among 98 equities making new 52-week lows in Tuesday’s session. On the NYSE advancers led decliners by about 1.52 to 1 and on the Nasdaq, advancers led decliners by about 1.38 to 1.

Ambev SA (NYSE: ABEV) traded down about 2.9% Tuesday to post a new 52-week low of $4.72 after closing Monday at $4.84. The stock’s 52-week high is $7.43. Volume was about 10% below the daily average of around 26 million shares. The company had no specific news.

Starbucks Corp. (NYSE: SBUX) fell about 1.1% Tuesday to post a new 52-week low of $50.11. Shares closed at $50.66 on Monday. The 52-week high is $61.94. Volume of around 10 million was about 3% higher than the daily average. The company had no specific news but a rival chain is stepping in to open new stores.

MGM Resorts International (NYSE: MGM) dropped about 2.1% Tuesday to post a new 52-week low of $28.65. Shares closed at $29.27 on Monday and the stock’s 52-week high is $38.41. Volume was about 20% below the daily average of around 9.8 million. Goldman Sachs dropped the company from its Conviction Buy list and cut its rating from Buy to Neutral.

Achaogen Inc. (NASDAQ: AKAO) traded down about 27% Tuesday and posted a new 52-week low of $8.73 after closing Monday at $12.02. The stock’s 52-week high is $25.22. Volume totaled about 8 million, nearly seven times the daily average. The FDA has sent the company a letter indicating the agency will not approve its urinary tract treatment for blood infections.

Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE

Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here
you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.


Click here
to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.