Broadcom, American Airlines Drop into Thursday's 52-Week Low Club
July 12, 2018: Here are four stocks trading with heavy volume among 63 equities making new 52-week lows in Thursday’s session. On the NYSE advancers led decliners by about 1.53 to 1 and on the Nasdaq, advancers led decliners by about 1.42 to 1.
Broadcom Inc. (NASDAQ: AVGO) fell about 19% Thursday to post a new 52-week low of $197.46. Shares closed at $243.44 on Wednesday, and the 52-week high is $285.68. Volume totaled more than 10 times the daily average of around 3.5 million. The company made a $19 billion offer to acquire software provider CA; coincidentally the company’s market cap dropped $19 billion.
American Airlines Group Inc. (NASDAQ: AAL) dropped about 0.9% Thursday to post a new 52-week low of $35.64. Shares closed at $35.96 on Wednesday and the stock’s 52-week high is $59.08. Volume totaled about a third more than the daily average of around 6.4 million. The company lowered second quarter guidance Wednesday morning.
Halcón Resources Corp. (NYSE: HK) traded down about 7% Thursday and posted a new 52-week low of $3.82 after closing Wednesday at $4.11. The stock’s 52-week high is $9.07. Volume totaled around 7 million, about a third above the daily average. The company had no specific news.
Avon Products Inc. (NYSE: AVP) traded down 2.7% Thursday to match a 52-week low of $1.45 after closing Wednesday at $1.49. The stock’s 52-week high is $3.89. Volume was a 30% below the daily average of about 5.5 million shares. The company had no specific news.