Wells Fargo, General Electric Slide into Tuesday’s 52-Week Low Club
Wells Fargo, General Electric, Weatherford International, and Lloyds Banking all posted new 52-week lows Tuesday.
December 11, 2018: Here are four stocks trading with heavy volume among 449 equities making new 52-week lows on Tuesday. On the NYSE, advancers led decliners by about 1.29 to 1 and advancers led decliners on the Nasdaq by about 1.08 to 1.
All three major indexes are on track close the day up less than 1%. Crude oil traded up about 1.3% on the day to settle at $51.65 a barrel. Gold settled down 0.2% at $1,247.20.
General Electric Co. (NYSE: GE) traded down about 3.9% Tuesday and posted a new 52-week low of $6.66 after closing Monday at $6.93. The stock’s 52-week high is $19.39. Volume was about 20% lower than the daily average of around 123 million. The company had no specific news.
Weatherford International plc (NYSE: WFT) dropped about 6.5% Tuesday to set a new 52-week low of $0.43. Shares closed at $0.46 on Monday and the stock’s 52-week high is $4.41. Volume was about 60% higher than the daily average of around 24 million. The oilfield services company had no specific news.
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Lloyds Banking Group plc (NYSE: LYG) traded down nearly 4.9% to post a new 52-week low of $2.51 Tuesday after closing at $2.64 on Monday. The stock’s 52-week high is $2.64 and volume was about three times the daily average of around 10.4 million. The London-based bank had no specific news, but then, with Brexit, none is needed.
Wells Fargo & Co. (NYSE: WFC) traded down about 2.6% at $47.54 Tuesday after closing at $48.80 on Monday. The stock’s 52-week high is $66.31. Volume was slightly roughly equal to the daily average of around 22 million. The big 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.