Cliffs Natural Resources Inc. (NYSE: CLF) posted a new 52-week low on Wedesday of $5.63. Based on Tuesday night’s closing price of $6.80 that’s a drop of more than 17%. The stock’s 52-week high is $27.13. Trading was about 50% higher than the stock’s average daily volume of around 12 million shares traded. An analyst said today that the stock price was headed toward $1.00 a share.
Joy Global Inc. (NYSE: JOY) dropped about 3.5% Wednesday to post a new 52-week low of $44.45 before rising to an intraday high of $46.61. The stock’s 52-week high is $65.36. Volume rose to about 4-times the daily average of around 1.5 million shares. The heavy equipment maker posted mediocre results today and guided 2015 EPS below estimates.
MGM International Inc. (NYSE: MGM) posted a drop of 8.5% today to establish a second consecutive new 52-week low at $17.25 against a high of $28.75. Volume was nearly 5-times the daily average of around 10 million shares. All the resort and casino operators with properties in Macau set new stock price lows Wednesday following a report that the Chinese government is about to clamp down on VIP tour operators on the island.
Weibo Corp. (NASDAQ: WB) dropped about 4.7% on Wednesday to post a new 52-week low of $13.88 after closing at $14.57 on Tuesday. The stock’s 52-week high is $26.08. Share volume is 10% above the 850,000 daily average shares traded. The company had no specific news today.
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