January 19, 2016: Here are four stocks trading with heavy volume among 773 equities making new 52-week lows today.
Bank of America Corp. (NYSE: BAC) dropped about 6.5% on Tuesday to post a new 52-week low of $14.01 against a 52-week high of $18.48. The stock closed at $14.99 on Friday night. Volume topped 150 million shares, approaching double the stock’s daily average volume of around 83 million. The bank reported earnings Tuesday morning, and some analysts liked what they saw and others didn’t. The stock traded down less than 1.5% on the day.
Alcoa Inc. (NYSE: AA) fell about 4.9% on Tuesday to post a new 52-week low of $6.56 against a high of $17.10. The stock closed at $6.90 on Friday night. Volume rose to around 38 million, about 20% above the daily average of around 31 million shares traded. The company said this afternoon that it will delay curtailing production at its Intalco smelter in Washington state until the end of the second quarter.
Citigroup Inc. (NYSE: C) dropped about 1.9% on Tuesday to post a new 52-week low at $41.66 after closing at $42.47 on Friday. The stock’s 52-week high is $60.95. Share volume totaled around 32 million shares compared with the daily average of around 18 million shares traded. Citi reported earnings last week, but the weakish report from BofA outweighed the better results reported by Morgan Stanley today.
Micron Technology Inc. (NASDAQ: MU) posted a new low on Tuesday. Shares dropped about 3.3% to a low of $10.71 from Friday’s closing price of $11.08. The stock’s 52-week high is $32.84. Volume was about 30% above the daily average of around 23 million shares. The big chipmaker had no specific news today.
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