Freeport-McMoRan Inc. (NYSE: FCX) posted a new 52-week low on Tuesday. Shares dropped about 14% to a low of $10.00 from Monday’s closing price of $11.65. The stock’s 52-week high is $37.10. Volume totaled nearly double the daily average of around 21 million. The company was hit by a sharp downturn in commodity metals following China’s devaluation early this morning.
Vipshop Holdings Ltd. (NYSE: VIPS) dropped about 19.5% on Tuesday to post a new 52-week low at $16.90 after closing at $21.00 on Monday. The stock’s 52-week high is $30.72. Share volume totaled more than tripled the daily average of around 10 million. The online discount retailer reported okay earnings last night, but the outlook was weak and the Chinese devaluation did not help.
Alibaba Group Holding Ltd. (NYSE: BABA) dropped about 5.4% on Tuesday to set a new 52-week low of $76015 after closing at $80.47 on Monday. The stock’s 52-week high is $120.00. Share volume totaled around 18 million shares, about 50% above the daily average of around 8 million. The shares were also cuffed around by the Chinese devaluation, plus the company is scheduled to report fiscal first quarter earnings Wednesday before the opening bell.
Symantec Corp. (NASDAQ: SYMC) dropped about 7.2% on Tuesday to post a new 52-week low of $21.25 against a 52-week high of $27.32. The stock closed at $22.91 on Monday night. Volume was more than 4 times the daily average of around 3.8 million shares traded. The company has agreed to sell its Veritas business to The Carlyle Group for $8 billion.
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