January 12, 2016: Here are four stocks trading with heavy volume among 704 equities making new 52-week lows today.
Freeport- McMoRan Inc. (NYSE: FCX) dropped more than 15% on Tuesday to post a new 52-week low of $3.65 against a 52-week high of $23.97. The stock closed at $4.31 on Monday night. Volume topped 120 million shares, about 3 times the stock’s daily average volume of around 40 million. The copper and gold producer has just been pummeled by falling commodity prices, and there is no end in sight.
Alcoa Inc. (NYSE: AA) fell more than 11% on Tuesday to post a new 52-week low of $7.10 against a high of $17.10. The stock closed at $8.00 on Monday night. Volume rose to about 83 million, nearly 3 times the daily average of around 30 million shares traded. The company reported good results on Monday, but the weight of falling commodity prices are too much to overcome.
SunEdison Inc. (NYSE: SUNE) dropped nearly 30% on Tuesday to post a new 52-week low at $2.36 after closing at $3.34 on Monday. The stock’s 52-week high is $33.45. Share volume totaled around 65 million shares compared with the daily average of around 55 million shares traded. The company’s debt once again entered the spotlight after another analyst raised questions about its expensive debt restructuring.
Williams Companies Inc. (NYSE: WMB) posted a new low on Tuesday. Shares dropped nearly 18% to a low of $15.19 from Monday’s closing price of $18.69. The stock’s 52-week high is $61.38. Volume was more than 4 times the daily average of around 10 million shares. Fitch Ratings downgraded the company’s credit rating into junk territory. Prospective acquirer Energy Transfer Equity also posted a new low today.
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