Papa John’s, Newell Brands Plummet into Wednesday’s 52-Week Low Club
Newell Brands, Papa John's, Extreme Networks, and Halcón Resources all posted new 52-week lows Wednesday.
August 8, 2018: Here are four stocks trading with heavy volume among 124 equities making new 52-week lows in Wednesday’s session. On the NYSE decliners led advancers by about 1.09 to 1 and on the Nasdaq, advancers led decliners by about 1.05 to 1.
Newell Brands Inc. (NYSE: NWL) traded down about 6.8% Wednesday to post a new 52-week low of $20.21 after closing Tuesday at $21.68. The stock’s 52-week high is $50.90. Volume was more than triple the daily average of about 6.2 million shares. Tariff impacts continue to plague the company.
Extreme Networks Inc. (NASDAQ: EXTR) traded down about 40% Wednesday to set a new 52-week low of $5.35. Shares closed at $8.96 on Tuesday, and the 52-week high is $15.55. Volume was about six times the daily average of around 2.4 million. The company missed revenues and investors have no patience for that these days.
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Halcón Resources Corp. (NYSE: HK) traded down about 7.3% Wednesday and posted a new 52-week low of $3.56 after closing Tuesday at $3.84. The stock’s 52-week high is $9.07. Volume totaled around 8 million, about 75% above the daily average.
Papa John’s International Inc. (NASDAQ: PZZA) dropped about 7.4% Wednesday to set a new 52-week low of $38.05. Shares closed at $41.07 on Tuesday and the stock’s 52-week high is $80.80. Volume was more than four times the daily average of around 1.6 million. The company can’t shake the spectre of founder and former CEO/chairman John Schnatter.
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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.