February 3, 2016: Here are four stocks trading with heavy volume among 396 equities making new 52-week lows today.
Bank of America Corp. (NYSE: BAC) dropped about 5.4% on Wednesday to post a new 52-week low at $12.52 after closing at $13.23 on Tuesday. The stock’s 52-week high is $18.48. Share volume totaled more than 230 million shares compared with the daily average of around 97 million shares traded. The big bank had no specific news today, but the financial sector has gotten no help from the Fed’s December interest rate hike, and they are all still holding paper on energy company debts that have been looking worse and worse.
Yahoo Inc. (NASDAQ: YHOO) posted a new 52-week low on Wednesday. Shares traded at a low of $26.57, down about 8.6%, after closing at $29.06 on Tuesday. The stock’s 52-week high is $46.17. Volume of more than 47 million represented a jump of nearly three times the daily average of around 16 million shares. The Internet media firm reported earnings after markets closed on Tuesday and said it would be looking at strategic alternatives for its core business.
Wells Fargo & Co. (NYSE: WFC) fell by about 4% on Wednesday to post a new 52-week low of $46.51 against a high of $58.77. The stock closed at $48.46 on Tuesday night. Volume rose to around 42 million, more than double the daily average of about 18 million shares traded. Another financial stock getting hammered in the general disillusionment with banks.
Citigroup Inc. (NYSE: C) dropped about 5.9% on Wednesday to post a new 52-week low of $38.04 against a 52-week high of $60.95. The stock closed at $40.42 on Tuesday night. Volume reached about 40 million shares, roughly double the stock’s daily average volume of around 21 million. Yet another financial stock that got trashed today.
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