Mitek Systems, L Brands Plunge into Tuesday’s 52-Week Low Club
L Brands, Mitek Systems, Grupo Supervielle, and Grupo Financiero Galicia all posted new 52-week lows Tuesday.
August 28, 2018: Here are four stocks trading with heavy volume among 42 equities making new 52-week lows in Tuesday’s session. On the NYSE decliners led advancers by about 1.16 to 1, and on the Nasdaq, advancers led decliners by about 1.05 to 1.
L Brands Inc. (NYSE: LB) traded down about 2.2% Tuesday to set a new 52-week low of $27.03 after closing at $27.64 on Monday. The stock’s 52-week high is $63.10. Volume was roughly equal to the daily average of around 5 million. The company had no specific news.
Grupo Supervielle SA (NYSE: SUPV) traded down about 8% Tuesday to post a new 52-week low of $5.60 after closing Monday at $6.09. The stock’s 52-week high is $33.85. Volume was more than four times the daily average of around 1.1 million shares. The Argentina bank posted poor results and issued poor guidance last Friday.
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Mitek Systems Inc. (NASDAQ: MITK) dropped more than 19% Tuesday to set a new 52-week low of $6.85. Shares closed at $8.50 on Monday and the stock’s 52-week high is $10.55. Volume totaled around 3.1 million, about 15 times the daily average. The company announced last night that its long-time CEO is leaving.
Grupo Financiero Galicia SA (NASDAQ: GGAF) traded down about 8.9% Tuesday and posted a new 52-week low of $23.50 after closing Monday at $25.80. The stock’s 52-week high is $73.45. Volume was more than 20 times the daily average of around 925,000. The Argentina-based bank 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.