November 25, 2015: Here are four stocks trading with heavy volume among 48 equities making new 52-week lows today.
TerraForm Power Inc. (NASDAQ: TERP) dropped about 23.8% on Wednesday to post a new 52-week low of $6.73 against a 52-week high of $42.66. The stock closed at $8.83 on Tuesday night. Volume was nearly 4 times the daily average of around 3.4 million shares traded. The SunEdison yieldco’s stock tumbled following a downgrade to the parent company and a rating revocation on TerraForm’s stock from Citi.
Vale SA (NYSE: VALE) posted a new low on Wednesday. Shares dropped about 4.1% to a low of $3.73 from Tuesday’s closing price of $3.89. The stock’s 52-week high is $9.50. Volume was about half the daily average of around 25.7 million shares. The iron ore miner’s stock follows the price of iron ore to new lows.
ArcelorMittal (NYSE: MT) dropped about 6% on Wednesday to post a new 52-week low of $4.62 against a high of $12.66. The stock closed at $4.92 on Tuesday night. Volume totaled about15% less than the daily average of around 9.4 million shares traded. Steel producers like ArcelorMittal are the reason iron ore miners like Vale are struggling. Demand for steel has fallen sharply over the past two years and shows no signs of recovery yet.
Abengoa Yield plc (NASDAQ: ABY) dropped by about 19% on Wednesday to post a new 52-week low at $14.15 after closing at $17.45 on Tuesday. The stock’s 52-week high is $38.84. Share volume was nearly 5 times the daily average of around 1.1 million. Parent company, Spanish bank Abengoa SA, has begun insolvency proceedings.
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