24/7 Wall St. is introducting the “52-Week Low Club” where we point out the big stocks that reached their 52-week low on a given today. Today’s additions to the club are two well known companies who reported weak earnings.
Shares of Groupon (NASDAQ: GRPN) fell 3.45% Wednesday to $5.32, below the previous 52-week low of $5.46. On Tuesday, Groupon reported earnings that missed analyst estimates. Groupon’s market share in the daily deals sector has also fallen, according to Yipit. It now controls a 53% market share, compared to a 56% market share in the previous three month period. Trading volume hovered around 18.2 million shares before market close.
Shares of Staples (NASDAQ: SPLS) fell 14.60% to $11.49, below the previous 52-week low of $12.10. The company’s sales were below Wall Street expectations. Staples also said sales would stay flat for 2012, despite saying sales would grow in the low single-digits previously. Trading volume hovered around 86.7 million shares before market close.
Samuel Weigley
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