Ambev, Starbucks Drop into Wednesday’s 52-Week Low Club
Ambev, Aquinox Pharmaceuticals, Starbucks, and Banco Bradesco all posted new 52-week lows Wednesday.
June 27, 2018: Here are four stocks trading with heavy volume among 157 equities making new 52-week lows in Wednesday’s session. On the NYSE decliners led advancers by about 2.38 to 1 and on the Nasdaq, advancers led decliners by about 3.95 to 1.
Ambev SA (NYSE: ABEV) traded down about 2.1% Wednesday to post a new 52-week low of $4.65 after closing Tuesday at $4.75. The stock’s 52-week high is $7.43. Volume was nearly 75% above the daily average of around 26 million shares. The company had no specific news.
Aquinox Pharmaceuticals Inc. (NASDAQ: AQXP) dropped about nearly 85% Wednesday to post a new 52-week low of $2.25. Shares closed at $15.31 on Tuesday and the stock’s 52-week high is $16.90. Volume totaled 13.5 million shares compared to a daily average of less than 200,000. The company’s bladder pain drug failed a trial and the company is stopping development.
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Starbucks Corp. (NYSE: SBUX) fell about 0.7% Wednesday to post a new 52-week low of $50.03. Shares closed at $50.38 on Tuesday. The 52-week high is $61.94. Volume of around 12 million was about 10% higher than the daily average. The company was among several named in a Reuters story related to the diminishing dominance of U.S. companies in China as the trade dispute heats up.
Banco Bradesco SA (NYSE: BBD) traded down about 3.4% Wednesday and posted a new 52-week low of $6.56 after closing Tuesday at $6.79. The stock’s 52-week high is $13.18. Volume totaled about 811.6 million, roughly equal to the daily average. 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.