Groupon, Infinera Plunge into Wednesday's 52-Week Low Club
November 7, 2018: Here are four stocks trading with heavy volume among 93 equities making new 52-week lows on Wednesday. On the NYSE advancers led decliners by about 3.3 to 1, and on the Nasdaq, decliners led advancers by about 2.09 to 1.
Groupon Inc. (NASDAQ: GRPN) traded down more than 11% Wednesday and posted a new 52-week low of $2.89 after closing Tuesday at $3.26. The stock’s 52-week high is $5.99. Volume was about four times the daily average of around 7.4 million. The company reported quarterly results this morning that missed revenue expectations.
Coty Inc. (NYSE: COTY) traded down about 25% Wednesday to set a new 52-week low of $8.38 after closing Wednesday at $11.18. The stock’s 52-week high is $21.68. Volume was more than double the daily average of around 8.2 million. The cosmetic giant also posted weak results this morning along with some words about supply-chain issues that sent investors to the exits.
Zillow Group Inc. (NASDAQ: Z) traded down about 26% Wednesday to set a new 52-week low of $30.30 after closing at $41.04 on Tuesday. The stock’s 52-week high is $65.70. Volume was about eight times the daily average of around 2.4 million. The company missed quarterly revenue estimates this morning and cut full-year revenue guidance.
Infinera Corp. (NASDAQ: INFN) dropped about 34% Wednesday to set a new 52-week low of $4.11 Shares closed at $6.23 on Tuesday and the stock’s 52-week high is $12.39. Volume was nearly seven times the daily average of around 2.7 million. The networking equipment maker got crushed after reporting declining sales after markets closed last night.