Signet Jewelers, Revance Therapeutics Tumble Into Thursday’s 52-Week Low Club
Signet Jewelers, Revance Therapeutics, Fanhua and Tailored Brands all posted new 52-week lows by noon on Thursday.
January 17, 2019: Here are four stocks trading with heavy volume among just 15 equities that have posted new 52-week lows by the noon hour Thursday. On the New York Stock Exchange, advancers led decliners by about 1.6 to 1 and advancers led decliners on the Nasdaq by about 1.51 to 1.
The three major indexes were trading mixed very close to the break-even line. Crude oil traded down about 1.2% on the day at $51.678 a barrel. Gold traded down about 0.2% at $1,291.70 for the day.
Signet Jewelers Ltd. (NYSE: SIG | SIG Price Prediction) traded down nearly 24% Thursday and posted a new 52-week low of $25.33, after closing Wednesday at $33.36. The stock’s 52-week high is $71.07. Volume was about nine times the daily average of around 1.5 million. The jewelry retailer cut its fourth-quarter guidance this morning.
Revance Therapeutics Inc. (NASDAQ: RVNC) traded down about 5.9% to post a new 52-week low of $17.05 Thursday, after closing at $18.11 on Wednesday. The stock’s 52-week high is $35.05. Volume was nearly 10 times the daily average of around 300,000. The company announced this morning a secondary stock offering of 5.88 million shares priced at $17.00 per share.
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Fanhua Inc. (NASDAQ: FANH) dropped about 15.5% Thursday to set a new 52-week low of $19.39. Shares closed at $22.95 on Wednesday, and the stock’s 52-week high is $278.62. Volume was almost 10 times the daily average of about 250,000. The Chinese financial services company had no specific news.
Tailored Brands Inc. (NYSE: TLRD) traded down about 3.3% to post a new 52-week low of $11.37 Thursday, after closing at $11.76 on Wednesday. The stock’s 52-week high is $35.94, and volume was about 40% below the daily average of around 1.8 million. The stock reversed course shortly after the opening bell and was on track to post a gain of around 1.3% for the day.
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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.