AT&T, Bank of America Slide into Thursday’s 52-Week Low Club
Bank of America, AT&T, Chesapeake Energy, and Micron all posted new 52-week lows Thursday.
December 20, 2018: Here are four stocks trading with heavy volume among 1,534 equities making new 52-week lows Thursday. On the NYSE, decliners led advancers by about 3.5 to 1 and decliners led advancers on the Nasdaq by about 2.63 to 1.
The three major indexes are on track close the day with losses in the neighborhood of 1.5% to 2%. Crude oil traded down about 4.8% on the day to settle at $45.88 a barrel. February crude futures today became the front-month contract. Gold settled up 0.9% at $1,267.90.
Bank of America Corp. (NYSE: BAC) traded down about 1.7% to post a new 52-week low of $23.76 Thursday after closing at $24.18 on Wednesday. The stock’s 52-week high is $33.05. Volume was about 15% higher than the daily average of around 71 million. The big bank had no specific news.
AT&T Inc. (NYSE: T) traded down about 5.4% to post a new 52-week low of $28.19 Thursday after closing at $29.82 on Wednesday. The stock’s 52-week high is $39.33 and volume was about 50% above the daily average of around 40 million. The company had no specific news today.
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Chesapeake Energy Corp. (NYSE: CHK) dropped about 10% Thursday to set a new 52-week low of $1.82. Shares closed at $2.02 on Wednesday and the stock’s 52-week high is $5.60. Volume was about 60% higher than the daily average of around 33.8 million. The once high-flying oil and gas producer is drifting into nowhere land on a boatload of debt, but that’s been the case for a few years now. There was no specific news today.
Micron Technology Inc. (NASDAQ: MU) traded down about 1.8% Thursday and posted a new 52-week low of $30.86 after closing Wednesday at $31.41. The stock’s 52-week high is $64.66. Volume was about double the daily average of around 34 million. The chipmaker reported less-than-fabulous quarterly numbers Wednesday night. The stock reversed course during the trading session and may close the session with a modest gain.
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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.