American Airlines, Avon Products Plummet into Wednesday’s 52-Week Low Club
American Airlines, Avon Products, Farmland Products, and Idera Pharmaceuticals all posted new 52-week lows Wednesday.
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July 11, 2018: Here are four stocks trading with heavy volume among 63 equities making new 52-week lows in Wednesday’s session. On the NYSE decliners led advancers by about5 2.5 to 1 and on the Nasdaq, decliners led advancers by about 1.87 to 1.
American Airlines Group Inc. (NASDAQ: AAL) dropped about 8.2% Wednesday to post a new 52-week low of $35.90. Shares closed at $39.12 on Tuesday and the stock’s 52-week high is $59.08. Volume totaled nearly four times the daily average of around 6 million. The company lowered second quarter guidance this morning.
Farmland Partners Inc. (NYSE: FPI) fell about 40% Wednesday to post a new 52-week low of $5.16. Shares closed at $8.65 on Tuesday, and the 52-week high is $968. Volume of around 7 million was about 35 times the daily average.
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Avon Products Inc. (NYSE: AVP) traded down 4.6% Wednesday to match a 52-week low of $1.45 after closing Tuesday at $1.52. The stock’s 52-week high is $3.89. Volume was a third higher than the daily average of about 4.6 million shares.
Idera Pharmaceuticals Inc. (NASDAQ: IDRA) traded down more than 25% Wednesday and posted a new 52-week low of $1.02 after closing Tuesday at $1.37. The stock’s 52-week high is $1.52. Volume totaled around 4.5million, about three times the daily average. A proposed merger with BioCyst was called off.
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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.
