Apple, Bristol-Myers Plummet into Thursday’s 52-Week Low Club
Apple, Bristol-Myers, Delta Air Lines, and United Continental all posted new 52-week lows on Thursday.
January 3, 2019: Here are four stocks trading with heavy volume among 66 equities trading at new 52-week lows shortly before Thursday’s closing bell. On the NYSE, decliners led advancers by about 1.25 to 1 and decliners led advancers on the Nasdaq by about 1.91 to 1.
The three major indexes are on track for solid losses today, led by you-know-who and the rest of the tech sector. Crude oil traded up about 1.2% on the day to settle at $47.09 a barrel. Gold settled up 0.8% at $1,294.80 for the day.
Apple Inc. (NASDAQ: AAPL | AAPL Price Prediction) dropped about 10% Thursday to set a new 52-week low of $142.00. Shares closed at $157.92 on Wednesday and the stock’s 52-week high is $233.47. Volume was nearly double the daily average of around 42 million. The tech giant issued an earnings warning last night.
Bristol-Myers Squibb Co. (NYSE: BMY) traded down about 14.8% to post a new 52-week low of $44.30 Thursday after closing at $52.02 on Wednesday. The stock’s 52-week high is $70.05 and volume was about eight times the daily average of around 9 million. The company announced this morning a $74 billion acquisition of rival drug maker Celgene.
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Delta Air Lines Inc. (NYSE: DAL) traded down about 10% to post a new 52-week low of $45.09 Thursday after closing at $50.09 on Wednesday. The stock’s 52-week high is $61.32. Volume was more than double the daily average of around 7.2 million. The company had no specific news. After starting off at a new low, shares gathered momentum and are headed for a gain of about 2.5% for the day. The airline warned on fourth-quarter revenues and profits this morning.
American Airlines Group Inc. (NASDAQ: AAL) traded down more than 11% Thursday and posted a new 52-week low of $28.81 after closing Wednesday at $32.48. The stock’s 52-week high is $59.08. Volume was about 50% higher than the daily average of around 9.7 million. The company had no news, but Delta’s warning slammed all airline stocks on Thursday.
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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.